HALIFAX, June 23, 2017 /CNW/ - Antler Gold Inc.
("Antler" or the "Company") (TSXV: ANTL) is pleased
to announce that it has completed its acquisition of the right to
earn a 100% interest ("Option") in 1,678 mineral claims
representing six separate projects (the "Property") in
central Newfoundland held by
Altius Resources Inc. ("Altius"), a wholly owned subsidiary
of Altius Minerals Corporation (TSX:ALS), previously announced on
March 30, 2017
("Transaction").
The Option is exercisable by Antler incurring exploration
expenditures of at least $300,000
within 12 months from the closing of the Transaction as part of the
work program on the Property recommended in the technical report
entitled "NI 43-101 Technical Report on the Central Newfoundland
Regional Gold Project, Central
Newfoundland, Newfoundland
and Labrador, Canada" which is
available on SEDAR at www.sedar.com. Pursuant to the Transaction,
the Company issued 980,000 common shares of Antler ("Common
Shares") to Altius, representing approximately 3.57% of the
issued and outstanding Common Shares. Altius now owns 5,480,000
Common Shares or approximately 19.94% of the issued and outstanding
shares of Antler.
Antler will act as the operator with respect to the Property and
will manage all technical and exploration work on the Property.
Upon acquisition of a 100% interest in the Property by Antler,
Altius will reserve and hold a 2% net smelter royalty in respect of
commercial production from the Property.
The Transaction was approved by the Company's shareholders by
way of written consent in accordance with the requirements of the
TSX Venture Exchange ("Exchange"). Antler also received
conditional approval of Transaction from the Exchange. The
Exchange's final approval is expected following closing.
The Company also announces that it has granted an aggregate of
175,000 stock options to officers, directors and consultants in
accordance with Antler's stock option plan ("Plan"). The
stock options are exercisable at a price of $0.75 per share and will vest at the rate of 50%
of the total on each of the six and twelve month anniversary of the
grant date. The options will expire five years form the date of
grant. All other terms and conditions of the options are I
accordance with the terms of the Plan.
The Exchange has in no way passed on the merits of the
Transaction and has neither approved nor disapproved the contents
of this news release.
CAUTIONARY STATEMENT:
This press release may contain forward-looking information, such
as statements regarding the final Exchange approval, future plans
and objectives of the Company and the vesting and expiry of
options. 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 complete the Company's obligations
during the Earn-in Period in order to earn a 100% interest in the
Property. Actual results may differ materially from results
suggested in any forward-looking information. The Company 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 securities laws applicable to the Company.
Additional information identifying risks and uncertainties is
contained in the Company's filings with the 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.
