WELLINGTON, NEW ZEALAND--(Marketwired - Aug. 29, 2014) - ANTIPODES GOLD (TSX VENTURE:AXG)(NZAX:AXG) ("the Company") announced today that, further to the News Release of 8 May ("Antipodes Gold announces private placement to advance WKP gold project"), it continues to seek working capital for development of the WKP project, and the Company is now also assessing all alternative options.
To arrange interim funding during this process, the Company has drawn down a loan of NZ$40,000 (approximately C$36,570) from Mr Chris Castle, under an agreement dated 29 April 2014, which is to be repaid to the lender, without interest, on or before 31 December 2014. This loan is secured. The Company announces that it will issue 200,000 common shares to Mr Castle under this arrangement, subject to TSXV approval.
In addition, as advised earlier, the Company incurred loans in March/April 2014 of C$40,000 from Directors and Officers, repayable by 30 September 2014, or convertible to common shares at the lenders' election.
At the Company's Annual General Meeting, held of July 28, 2014, all resolutions proposed were approved.
For more information and to subscribe to further news updates, please visit antipodesgold.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor New Zealand Exchange Limited has reviewed this release and neither accepts responsibility for its adequacy or accuracy.