Antler Gold Closes Private Placement Financing

About this update from Antler Gold, Inc.

[{"type":"text","content":"Antler Gold Closes Private Placement FinancingHalifax, Nova Scotia--(Newsfile Corp. - July 22, 2020) - Antler Gold Inc. (TSXV: ANTL) (\"Antler\" or the \"Company\") is pleased to announce that it has closed its previously announced private placement financing (the \"Financing\") and has raised gross proceeds of $3,000,000 through the sale of 12,000,000 units of Antler (each, a \"Unit\") at $0.25 per Unit. Each Unit consists 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 $0.40 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 (\"Excluded Purchasers\") have subscribed for 380,000 Units under the Financing.Numus Capital Corp., acted as agent for the Financing (the \"Agent\"), in conjunction with Cormark Securities Inc. and PowerOne Capital Markets Limited acting as finders (the \"Finders\"). As compensation for their services, the Agent and Finders will receive a cash compensation equal to $203,350.00 which excluded proceeds from the sale of any Units sold to Excluded Purchasers. In addition, as further compensation, Antler issued 813,400 compensation warrants entitling the Agent and Finders to purchase that same number of Common Shares at a price of $0.25 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 advance exploration work on its Erongo Gold Project in Namibia as well as for general working capital purposes.Completion of the Financing is subject to the satisfaction of certain conditions, including the final 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.About Antler Gold Inc.Antler Gold Inc. (TSXV: ANTL) is a Canadian company, focused on the acquisition and exploration of gold projects in Namibia. Antler's Erongo Gold Project covers areas of the Navachab-Damara Belt, which is highly prospective for gold, and overlies similar lithologies and structures as the known Namibian Gold mines (QKR's Navachab and B2 Golds' Otjikoto) as well as Osino's recent Twin Hills discovery....

More updates from Antler Gold, Inc.