HALIFAX, May 4, 2017 /CNW/ - Antler Gold Inc.
("Antler" or the "Company") (TSXV: ANTL) is pleased to announce
that the board of directors have considered a proposed 1.5 for 1
stock split and will recommend that shareholders approve the
proposed split at the Company's upcoming annual and special meeting
of shareholders to be held on June 28,
2017. In addition to shareholder approval, the stock split
is subject to the approval of the TSX Venture Exchange
("TSXV").
It is expected that the increased number of outstanding common
shares resulting from the proposed stock split will provide a
greater opportunity for investors to become shareholders of the
Company as a result of increased liquidity of the Company's shares.
If passed and accepted, the stock split would result in an increase
in the number of outstanding common shares from 26,498,544 as of
today's date to up to approximately 39,747,816, subject to
reduction for any fractional shares resulting from the proposed
stock split that will be cancelled.
Wilding Lake Option Exercise
The Company further
announces that on May 4, 2017, it
provided notice to Altius Resources Inc. ("Altius") that it
exercised its option to acquire a 100% interest in the Wilding Lake
Project pursuant to the Option Agreement between the Company and
Altius dated September 15, 2016, as
amended. Altius will continue to have a significant interest in the
success of the project through its approximately 17% equity
interest currently held in the Company. Following the expected
closing of the additional option transaction with Altius announced
on March 30, 2017, pursuant to which
the Company will acquire an option to acquire a 100% interest in an
additional 1,678 minerals claims in central Newfoundland from Altius by, amongst other
things, issuing 980,000 common shares of Antler to Altius, Altius
will hold approximately 19.94% of the outstanding common shares of
the Company. The closing of the additional option transaction is
subject to a number of conditions, including the approval of the
TSXV.
Concurrently with the completion of the transfer of the Wilding
Lake property to the Company, the Company and Altius will enter
into a royalty agreement pursuant to which Altius will retain a 2%
net smelter royalty in respect of commercial production from the
property, subject to reduction for underlying royalty obligations.
A further news release will be issued upon completion of the
transfer of the property to the Company.
Management and Board Changes
Following the transfer of
title to the Wilding Lake property to the Company, the Company will
be the operator of the Wilding Lake Project. Antler is pleased to
announce that Mr. Howard Bird has
been appointed Vice President, Exploration for the Company and will
be responsible for all aspects of the Company's exploration
activities. Mr. Bird was the Senior Vice President of Exploration
and Geology at Brigus Gold Corp. ("Brigus"), where he led the
exploration team in the recent discovery of three new gold deposits
at the Grey Fox Project. He was also part of Brigus' corporate development team in adding
over two million ounces to its portfolio with the acquisitions of
the Black Fox mine, near Timmins,
Ontario and the Box mine deposit in northern Saskatchewan. Brigus was later acquired by Primero Mining
Corp. in March 2014. Prior to
Brigus, Mr. Bird was the Senior
Vice President of Global Exploration for SouthernEra Resources Ltd.
and the Senior Project Geologist for Noranda Inc. and International
Corona Resources, working within the Abitibi, Hemlo, and Michipicoten gold camps. In
addition, Mr. Bird has extensive international geological knowledge
working in Brazil, Mexico, Australia and many parts of Africa. To preserve the independence of a
majority of the board of directors of the Company, Mr. Bird has
resigned from the board effective immediately. The board thanks Mr.
Bird for his contributions to the Company to date as a board member
and looks forward to working with him in this new role.
The Company is pleased to announce that Mr. Carl Hansen has agreed to join the board of
directors of the Company effective immediately, subject to TSXV
approval. Mr. Hansen is a geologist with over 25 years of
experience in the exploration and mining industry. He is currently
the CEO of Atacama Pacific Gold Corporation and was the co-founder
and CEO of Andina Minerals until January
2009. Mr. Hansen has held senior positions with TVX Gold
Inc. and Kinross Gold Corporation, as well as exploration positions
with Inco Limited. He has a range of underground mine development
experience having been the Chief Geologist at the New Britannia
Mine in Snow Lake, Manitoba and
Senior Geologist/Project Manager at the high-grade Kasperske Hory
Project, Czech Republic. Further,
Mr. Hansen worked at the Casa Berardi Mine, Quebec during its early development. Mr.
Hansen is also director of Atacama Pacific, Colombia Crest Gold
Corp. and Torrent Capital Ltd. (previously Metallum Resources
Inc.).
To further strengthen the Company's management team, Mr.
Dave Evans has been appointed as
Exploration Manager. Mr. Evans has been managing Altius'
exploration program on the Wilding Lake Project since before it was
optioned to the Company. Mr. Evans is a native of Newfoundland and holds a Bachelor and Masters
of Science in Geology. He has over 30 years experience working
extensively with gold and base metals deposits in Newfoundland, for both public companies and
the Newfoundland Department of Natural Resources.
Dan Whittaker, President and CEO
of Antler, stated: "These initiatives further strengthen our team
as we prepare for the upcoming field season, which we anticipate
will start this month. We will continue to work closely with Altius
as we advance our flagship Wilding Lake Project as well as our
other land holdings. The Company is fully funded for its 2017
exploration program and we're looking forward to getting
started."
CAUTIONARY STATEMENT:
This press release may contain forward-looking information, such
as statements regarding the completion of the proposed stock split,
the option transaction with Altius for the regional ground and
the acquisition of the Wilding Lake Project, the shareholder
approval requirements and future plans and objectives of the
Company. This information is based on current expectations and
assumptions (including assumptions in connection with the
continuance of the Company as a going concern and 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 complete the
proposed stock split, the option transaction with Altius, and to
obtain title to the Wilding Lake property. Actual results may
differ materially from results suggested in any forward-looking
information. The Company assumes no 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 the Company. Additional information identifying
risks and uncertainties is contained in the Company's filings with
the 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.