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Antler Gold Arranges Brokered Private Placement Financing

08.01.2020  |  Newsfile

Halifax, January 8, 2020 - Antler Gold Inc. (TSXV: ANTL) ("Antler") is pleased to announce that it plans to raise up to $600,000 through a brokered private placement (the "Financing") of up to 10,000,000 units of Antler (each, a "Unit") at $0.06 per Unit. Each Unit will consist of one common share of Antler (a "Common Share") and one-half share purchase warrant (each whole warrant, a "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 (the "Closing Date"). Insiders and certain other existing shareholders of Antler intend on subscribing for the Units under the Financing.

Numus Capital Corporation will act as agent for the Financing (the "Agent"). Antler has agreed to grant the Agent an option (the "Over-Allotment Option") to purchase, in whole or in part, up to an additional 15% of such number of Units sold by the Agent, to cover over-allotments, if any. The Over-Allotment Option shall be exercisable, in whole or in part by the Agent at any time up to 48 hours prior to the Closing Date.

As compensation for its services, the Agent will receive a cash compensation equal to 7.5% of the gross proceeds of the Financing. The Agent will also receive non-transferable broker warrants (the "Broker Warrants") which will entitle the Agent to acquire such number of Units as is equal to 7.5% of the number of Units placed by the Agent. The Broker Warrants will be exercisable at a price of $0.15 per share any time for a period of 24 months from the Closing Date.

Antler intends to use the net proceeds of the Financing to satisfy the exploration work and cash requirements to acquire a 75% interest in a private company, the sole asset of which is an exclusive prospecting license in Namibia known as EPL 5455 (as announced on December 12, 2019) 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 and all securities issued pursuant to the Financing will be subject to a four-month hold period commencing on the Closing Date.

Cautionary Statements

This press release may contain forward-looking information, such as statements regarding the completion of the Financing, and future plans and objectives of Antler. This information is based on current expectations and assumptions (including assumptions in connection with the continuance of the company as a going concern and 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 completion of the Financing. Actual results may differ materially from results suggested in any forward-looking information. Antler assumes no 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 applicable securities laws. Additional information identifying risks and uncertainties is contained in filings made by Antler with Canadian securities regulators, copies of which 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.

For further information, please contact Daniel Whittaker, President and CEO of Antler Gold Inc., at (902) 488-4700.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51249


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