Antler Gold to raise $3M for exploration in Namibia

• Antler Gold (TSXV:ANTL) is set to raise up to C$3 million in a private placement to fund exploration work at its Erongo Gold Project in Namibia
• The company intends to issue up to 12 million units at a price of 25 cents each, comprised of one common share and half of one common share purchase warrant
• Each whole warrant will be exercisable at a price of 40 cents for a period of 24 months from the date of issuance
• The proceeds will be used to fund exploration work at the company’s Erongo Gold Project, as well as for general working capital purposes
• Antler Gold (ANTL) is currently up 8.33 per cent and is trading at 32 cents per share 

Antler Gold (TSXV:ANTL) is set to raise up to C$3 million in a private placement to fund exploration work at its Erongo Gold Project in Namibia.

Under the terms of the placement, the Nova Scotia-based gold explorer intends to issue up to 12 million units at price of 25 cents each. These units will be comprised of one common share and half of one common share purchase warrant.

Each whole warrant will be exercisable at a price of 40 cents for a period of 24 months from the date of issuance.

Numus Capital will act as the agent for the offering, in conjunction with Cormack Securities and PowerOne Capital Markets as finders. As consideration for their services, these parties will receive a cash compensation equal to seven per cent of the total amount raised.

A number of compensation warrants will also be issued, equal to seven per cent of the total units sold. These warrants will be exercisable at a price of 25 cents for a period of 24 months from the date of issuance.

The proceeds raised under the placement will be used to fund exploration work at Antler Gold’s Erongo Gold Project, as well as for general working capital purposes.

Located in central Namibia near the towns of Usakos, Karibib and Omaruru, the Erongo Gold Project hosts five licenses within a total land package of approximately 85,341 hectares on the Navachab-Damara Belt.

Initial work at the project undertaken by Antler Gold was focused on the reinterpretation of government-gathered aeromagnetic data, which subsequently resulted in the discovery of a large, previously unmapped regional structure, now known as the Kranzberg Fault Zone.

Antler Gold (ANTL) is up 8.33 per cent and is trading at 32 cents per share at 11:01am EDT.