HALIFAX, Aug. 27, 2019 /CNW/ - Antler Gold Inc. ("Antler") (TSXV: ANTL) is pleased to announce that it has entered into a definitive agreement to sell its Cape Ray licenses ("Cape Ray Licenses") in Newfoundland to Cape Ray Mining Limited, a wholly-owned indirect subsidiary of Matador Mining Limited.
In order to acquire a 100% interest in the Cape Ray Licenses (which total 191 claims), Matador must make a cash payment of $50,000 to Antler and issue Antler $15,000 worth of Matador common shares. The number of Matador common shares to be issued to Antler is to be determined based on the 15-day volume weighted average price per share immediately prior to the closing date, which is anticipated to be on or before September 15, 2019.
Completion of the acquisition of the Cape Ray Licenses is subject to conditions that are customary for such a transaction, including finalization of due diligence, securing all required opinions and approvals and transfer of the Cape Ray Licenses.
This press release may contain forward-looking information, such as statements regarding the completion of the transaction 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 applicable 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 transaction. 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.
SOURCE Antler Gold Inc.
For further information: Daniel Whittaker, President and CEO of Antler Gold Inc., at (902) 488-4700.