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Antler Gold - Issuers News - Numus Financial

Antler Gold Upsizes Private Placement Financing

HALIFAX, Nova Scotia, June 23, 2022 
Antler Gold Inc. is pleased to announce that it has upsized its financing previously announced on June 8, 2022 from gross proceeds of $800,000 to up to $1,150,000 by the sale of up to 11,500,000 units of Antler  at $0.10 per Unit. Each Unit will consist of one common share of Antler and one share purchase warrant. Each Warrant will be exercisable to purchase one common share of Antler at a price of $0.15 per share for a period of 24 months from the closing date of the Financing. Insiders and certain other existing shareholders of Antler intend on subscribing for the Units under the Financing.

Numus Capital Corp. will act as agent for the Financing. The Agent is a non-arm’s length party, as the Agent is controlled by a director and an insider of Antler. As compensation for their services, the Agent will receive such number of compensation units as is equal to 7.0% of the number of Units sold by Antler other than to Excluded Purchasers, or as may be required by the TSX Venture Exchange. Each Compensation Unit will consist of one Common Share and one Warrant exercisable into one Common Share at an exercise price of $0.15 per share for a period of 24 months from the Closing Date. Compensation to the Agent is subject to TSX Venture Exchange approval.

Antler intends to use the net proceeds of the Financing to advance exploration work on its Namibian gold projects and the Kesya Rare Earth Project in Zambia as well as for general working capital purposes. Completion of the Financing is subject to the satisfaction of certain conditions, including the approval of the TSX Venture Exchange. All securities issued pursuant to the Financing will be subject to a four-month hold period commencing on the Closing Date.