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.
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