Antler Gold Arranges Brokered Private Placement Financing

About this update from Antler Gold, Inc.

[{"type":"text","content":"Antler Gold Arranges Brokered Private Placement FinancingHalifax, Nova Scotia--(Newsfile Corp. - January 8, 2020) - Antler Gold Inc. (TSXV: ANTL) (\"Antler\") is pleased to announce that it plans to raise up to $600,000 through a brokered private placement (the \"Financing\") of up to 10,000,000 units of Antler (each, a \"Unit\") at $0.06 per Unit. Each Unit will consist of one common share of Antler (a \"Common Share\") and one-half share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will be exercisable to purchase one common share of Antler at a price of $0.15 per share for a period of 24 months from the closing date of the Financing (the \"Closing Date\"). Insiders and certain other existing shareholders of Antler intend on subscribing for the Units under the Financing.Numus Capital Corporation will act as agent for the Financing (the \"Agent\"). Antler has agreed to grant the Agent an option (the \"Over-Allotment Option\") to purchase, in whole or in part, up to an additional 15% of such number of Units sold by the Agent, to cover over-allotments, if any. The Over-Allotment Option shall be exercisable, in whole or in part by the Agent at any time up to 48 hours prior to the Closing Date. As compensation for its services, the Agent will receive a cash compensation equal to 7.5% of the gross proceeds of the Financing. The Agent will also receive non-transferable broker warrants (the \"Broker Warrants\") which will entitle the Agent to acquire such number of Units as is equal to 7.5% of the number of Units placed by the Agent. The Broker Warrants will be exercisable at a price of $0.15 per share any time for a period of 24 months from the Closing Date.Antler intends to use the net proceeds of the Financing to satisfy the exploration work and cash requirements to acquire a 75% interest in a private company, the sole asset of which is an exclusive prospecting license in Namibia known as EPL 5455 (as announced on December 12, 2019) as well as for general working capital purposes.Completion of the Financing is subject to the satisfaction of certain conditions, including the approval of the TSX Venture Exchange and all securities issued pursuant to the Financing will be subject to a four-month hold period commencing on the Closing Date.Cautionary StatementsThis press release may contain forward-looking info...

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