HALIFAX, Feb. 24, 2017 /CNW/ - Antler Gold Inc. ("Antler"
or "Company") (TSX-V:ANTL) is pleased to announce that it has
closed the previously announced brokered best efforts private
placement ("Financing") effective February
23, 2017 for total gross proceeds to the Company of
$2,834,999.90, comprised of the sale
of 2,495,600 common shares ("Shares") and 1,280,094 flow-through
common shares ("FT Shares") at a price of $0.70 per Share and $0.85 per FT Share. Mackie Research Capital
Corporation acted as lead agent and sole bookrunner on behalf of a
syndicate including Haywood Securities Inc. and PowerOne Capital
Markets Limited (the "Agents"). The over-allotment option granted
to the Agents was exercised with respect to 50,000 Shares.
As compensation for their services, the Agents received a total
cash commission of $148,203 and an
aggregate of 127,440 non-tranferable compensation options which
entitles them to acquire that same number of common shares at a
price of $0.70 per common share. The
options are exercisable for a period of 18 months from the closing
of the Financing.
Insiders of Antler subscribed for a total of 297,494 Shares and
FT Shares under the Financing.
Antler intends to use the net proceeds of the Financing to
continue exploration on its Wilding Lake Gold project in
Central Newfoundland and for
working capital purposes. The proceeds of the FT Shares are to be
used to incur expenses that qualify as Canadian Exploration
Expenses and will be renounced to subscribers of such shares with
an effective date no later than December 31,
2017.
The Financing is subject to final approval from the TSX Venture
Exchange and all securities issued pursuant to the Financing are
subject to a four-month statutory hold period from the date of
issue.
Cautionary Statements
This press release may contain forward-looking information, such
as statements regarding the final approval of the Financing from
the TSX Venture Exchange and future plans of the Company. This
information is based on current expectations and assumptions
(including assumptions relating to general economic and market
conditions) that are subject to significant risks and uncertainties
that are difficult to predict, including risks relating to the
ability to satisfy the conditions to receive final approval of the
Financing. Actual results may differ materially from results
suggested in any forward-looking information. Antler does not
assume any obligation to update forward-looking information in this
release, or to update the reasons why actual results could differ
from those reflected in the forward-looking information unless and
until required by securities laws applicable to Antler. Additional
information identifying risks and uncertainties is contained in the
filings made by Antler with Canadian securities regulators, which
filings are available at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Antler Gold Inc.