Antilles Gold

Antilles Gold Takes Up Second $1.0 Million Convertible Note

Antilles Gold Limited (“Antilles Gold” or the “Company”) (ASX: AAU, OTCQB: ANTMF) advises that it has exercised its option to take up a second A$1.0M Convertible Note from Patras Capital Pte Ltd on the same commercial terms as the first A$1.0M Convertible Note which was issued on 8 March 2024.


The basic terms of the second Convertible Note are as follows;

Principal Amount

A$1,000,000

Maturity Date

30 April2026

Interest

NIL

Discount to Principal Amount

A$100,000 (in lieu of interest)

Early Repayment

At the Company’s option at 110%of any outstanding balance of the Convertible Note within the first year after issue, and 115% in the second

Conversion

TheNote holder may convert all or partof any outstanding amount of the Convertible Note at a conversion price equal to:

i)$0.04 per share; or

ii)A 10% discount to the numericaverage of the lowest 5 daily VWAP’s in the 15 trading days prior to conversion which can not be less than $0.015 per share

Security

40,000,000 AAU shareson the issueof the Convertible Note which can be applied to any conversion.

Law & Jurisdiction

Queensland

Antilles Gold has sufficient placement capacity under Listing Rule 7.1, or 7.1A for the second Convertible Note.

The Company has issued 27,000,000 AAU shares at $0.02 each to Patras Capital as Security Shares for the second Convertible Note from existing capacity under Listing Rule 7.1A.

The balance of the Security Shares (13,000,000) will be issued in due course.

The majority of the funds raised will be applied to subscribing for shares in the Cuban joint venture company, Minera La Victoria, for it to continue pre-development activities for the Nueva Sabana gold-copper mine.


Click here for the full ASX Release

This article includes content from Antilles Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

AAU:AU
The Conversation (0)
Antilles Gold Limited

Antilles Gold Limited

Developing Gold and Copper Projects in mineral‐rich Cuba

Developing Gold and Copper Projects in mineral‐rich Cuba Keep Reading...
Antilles Gold to Raise $1.0M for Working Capital

Antilles Gold to Raise $1.0M for Working Capital

Antilles Gold Limited (AAU:AU) has announced Antilles Gold to Raise $1.0M for Working CapitalDownload the PDF here. Keep Reading...
Quarterly Activities/Appendix 5B Cash Flow Report

Quarterly Activities/Appendix 5B Cash Flow Report

Antilles Gold Limited (AAU:AU) has announced Quarterly Activities/Appendix 5B Cash Flow ReportDownload the PDF here. Keep Reading...
Summary of Pre-Feasibility Study for Nueva Sabana Mine

Summary of Pre-Feasibility Study for Nueva Sabana Mine

Antilles Gold Limited (AAU:AU) has announced Summary of Pre-Feasibility Study for Nueva Sabana MineDownload the PDF here. Keep Reading...
Revision to Updated Scoping Study Nueva Sabana Mine, Cuba

Revision to Updated Scoping Study Nueva Sabana Mine, Cuba

Antilles Gold Limited (AAU:AU) has announced Revision to Updated Scoping Study Nueva Sabana Mine, CubaDownload the PDF here. Keep Reading...
Dana Samuelson, silver bars.

Dana Samuelson: Gold, Silver Bottom? Watch These Key Price Levels

Dana Samuelson, president of American Gold Exchange, shares his outlook for gold and silver prices, honing in on support and resistance levels. "It'll be hard to find a real, hard bottom, but I think we're getting pretty close to it," he said.Don't forget to follow us @INN_Resource for real-time... Keep Reading...
Andy Schectman, gold and silver bars

Andy Schectman: Gold Price is Misdirection — What to Watch Instead

Andy Schectman, president of Miles Franklin, shares his latest thoughts on the gold market, emphasizing that prices are a tool of misdirection.He believes what's important right now is the growing emphasis on physical delivery of metal.Don't forget to follow us @INN_Resource for real-time... Keep Reading...
Drill in dirt at mine site with "5 Top Canadian Mining Stocks This Week" text overlay.

Top 5 Australian Mining Stocks This Week: CGN Resources Spikes on Maiden Gold Drilling

Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks on the ASX.Companies focused on gold, helium and critical minerals shone this week, with copper and gold explorer CGN Resources taking the top spot.Read on to discover this week's top gaining Australian... Keep Reading...
Tavi Costa: Gold, Silver, Copper — Outlook, Plus My Strategy Now

Tavi Costa: Gold, Silver, Copper — Outlook, Plus My Strategy Now

Tavi Costa, CEO of Azuria Capital, shares his outlook for gold, silver and copper. He also speaks about the commodities space more broadly, emphasizing the importance of holding hard assets as the US treasury market struggles to retain credibility.Don't forget to follow us @INN_Resource for... Keep Reading...
Rick Rule, mine site.

Rick Rule: Oil Bull Case, Plus the Only 3 Gold Stocks You Need

Rick Rule, proprietor at Rule Investment Media, shares his short- and long-term oil outlook. He also weighs in on gold's price pullback, referring to it as a "hiatus" similar to the one seen in 1975. Click here for this year's Rule Symposium recordings. Don't forget to follow us @INN_Resource... Keep Reading...
Precious Metals & Critical Minerals Virtual Investor Conference Agenda Announced for July 22nd & 23rd

Precious Metals & Critical Minerals Virtual Investor Conference Agenda Announced for July 22nd & 23rd

Company Executives Share Vision and Answer Questions Live at VirtualInvestorConferences.com

Virtual Investor Conferences, the leading proprietary investor conference series, announced the agenda for the Precious Metals & Critical Minerals Virtual Investor Conference to be held July 22nd & 23rd, 2026.Individual investors, institutional investors, advisors, and analysts are invited to... Keep Reading...

Interactive Chart

Latest Press Releases

Related News