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
Antilles Gold Limited

Antilles Gold Limited Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Antilles Gold Limited

Antilles Gold Limited


Keep reading...Show less
Ordell Minerals Limited

Shallow, High-Grade Gold Mineralisation Intersected at Barimaia Gold Project

Results from Phase 2 drilling confirm McNabs East as a high-priority target for follow-up exploration, with diamond drilling to commence in November

Ordell Minerals Limited (ASX Code: “ORD”) (“Ordell” or “the Company”) is pleased to announce significant drill results from recent, shallow, wide-spaced Reverse Circulation (RC) drilling at its Barimaia Gold Project (“Barimaia”), located near Mount Magnet in the Murchison region of Western Australia.

Keep reading...Show less
Patronus Resources

Key Mining Approval Received for Fountain Head Gold Project, NT

Patronus Resources Limited (ASX: PTN; “Patronus” or “the Company”) is pleased to advise that the Northern Territory Government has approved the amended Mining Management Plan (MMP) for its 100%-owned Fountain Head Gold Project, located in the Pine Creek region 170km by road from Darwin in the Northern Territory.

Keep reading...Show less
Gold bars.

Top 5 Canadian Mining Stocks This Week: Sabre Gold Surges on Minera Alamos Acquisition

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX and TSXV, starting with a round-up of Canadian and US data impacting the resource sector.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 2.87 percent on the week to close at 603.95 on Friday (November 1). Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) was down 0.82 percent to 24,255.16.

Statistics Canada released its August GDP figures on Thursday (October 31). The data indicated GDP remained flat following a 0.1 percent increase in July. Headline data suggests finance, insurance and public administration sectors were up 0.1 percent while goods-producing sectors fell by 0.4 percent to their lowest since December 2021.

Keep reading...Show less
Congress building, gold bars.

Top Stories This Week: Gold Futures Break US$2,800, 3 Experts Talk US Election Price Impact

The gold price was on the move once again this week, with December COMEX futures briefly passing US$2,800 per ounce on Wednesday (October 30), another new record for the yellow metal.

Gold had pulled back substantially by Friday (November 1), sitting at the US$2,735 level as of 12:00 p.m. PDT. The decline came despite a weak October US jobs report, which has boosted expectations for an interest rate cut next week.

With many undeniably influencing gold right now, arguably the most immediate is the US election.

Keep reading...Show less
Antilles Gold Limited

Antilles Gold Limited Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×