Market Overview

Antler Gold Closes Financings


Antler Gold Closes Financings

Canada NewsWire

HALIFAX, Aug. 24, 2018 /CNW/ - Antler Gold Inc. (TSXV:ANTL) has announced it has closed financings previously announced on June 21, 2018 and August 14, 2018 subject to final acceptance of the TSX Venture Exchange. Antler has raised gross proceeds of $678,232 through the issuance of 573,079 Units at a price of $0.66 per Unit and 2,000,000 additional common shares at a price of $0.15 per common share. Each Unit consists of three flow-through common shares priced at $0.17 per flow-through shares and one additional common share priced at $0.15. The total number of common shares issued to purchasers was 4,292,316, of which 1,719,237 were issued as flow-through shares.

Numus Capital Corp., a company controlled by insider of Antler, acted as the agent for the financing. Insiders of Antler subscribed for a total of 250,758 Units. As compensation for its services, Numus received a cash commission of $41,018.57 which amount is equal to 8.0% of the gross proceeds of the financing, other than proceeds from the sale of any Units sold to insiders. In addition, as further compensation, Antler has issued compensation warrants entitling Numus to purchase 263,143 common shares for a period of two years from the closing of the financing at a price of $0.15 per share. The number of compensation warrants is equal to 8% of the number of shares sold under the financing other than to insiders.

Antler intends to use the net proceeds of both financings to continue exploration on its Wilding Lake and other gold projects in Central Newfoundland for the 2018 field season and for general corporate and working capital purposes. The proceeds of the flow-through shares are to qualify for the Canadian Exploration Expense and will be renounced to subscribers of such shares no later than December 31, 2018.

All securities issued pursuant to the financing, as well as the compensation warrants and any shares issued upon exercise of those warrants, will be subject to a four-month statutory hold period from the date of issue which expires on December 25, 2018. The transactions in so far as they involve related parties are not material, representing less than 3% of the outstanding shares post-closing. Accordingly, the transactions are exempt from the valuation and minority approval requirements of applicable securities rules in Multilateral Instrument 61-101 and TSXV policies because the value, in so far as it involves related parties, does not exceed 25% of Antler's market capitalization.

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.

Cautionary Statements

This press release may contain forward-looking information, including statements regarding the timing, amount and use of proceeds of Antler's planned private placement. This information is based on current expectations and assumptions (including assumptions relating to regulatory approval, 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 meet regulatory conditions and actual exploration results. 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


SOURCE Antler Gold Inc.

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