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...
Skull Ridge Gold Acquires 17,225-Hectare Strategic Land Position Along Emerging Crippleback–Stony Lake Gold-Copper Corridor

Skull Ridge Gold Acquires 17,225-Hectare Strategic Land Position Along Emerging Crippleback–Stony Lake Gold-Copper Corridor

Skull Ridge Gold Corp. (CSE: SKUL) (“Skull Ridge” or the “Company”) is pleased to announce that it has acquired, through an arm’s-length Newfoundland prospector 689 mineral claims covering approximately 17,225 hectares in Central Newfoundland. The claims were acquired through the reimbursement... Keep Reading...
M&A written on puzzle pieces.

OceanaGold to Acquire Ausgold in US$549 Million Deal

OceanaGold (TSX:OGC,NYSE:OGC) has agreed to acquire Australian developer Ausgold (ASX:AUC,OTCPL:AUSGF) for US$549 million, securing full ownership of the Katanning gold project in Western Australia.The Ausgold board unanimously recommended the transaction, and major shareholder Dundee... Keep Reading...
A red flag pin stands on a textured blue surface with a target-like circle at its base.

Spotting Red Flags: A Guide to Mining Sector Exploration

Junior mining is where nearly every new discovery starts, and unfortunately where most of them quietly end. New projects aren't moving into development fast enough to keep the pipeline healthy, and downstream processing capacity is falling behind with them.That gap starts at the exploration... Keep Reading...
American Eagle Drills One Kilometre of Copper-Gold Mineralization from Surface at NAK: 1,001 Metres of 0.46% CuEq, Including 218 Metres of 1.01% CuEq

American Eagle Drills One Kilometre of Copper-Gold Mineralization from Surface at NAK: 1,001 Metres of 0.46% CuEq, Including 218 Metres of 1.01% CuEq

Highlights: NAK26-87 intersected 1,001 metres of 0.46% copper equivalent (CuEq) starting at surface, including 218 metres of 1.01% CuEq, a full kilometre of continuous copper-gold mineralization and the longest mineralized intercept ever drilled at NAK. Kilometre-long intercepts of copper and... Keep Reading...
iMetal Resources Announces Closing of Private Placement

iMetal Resources Announces Closing of Private Placement

iMetal Resources, Inc. (TSXV: IMR,OTC:IMRFF) (OTCQB: IMRFF) (FSE: A7VA) ("iMetal" or the "Company") confirms that its previously announced non-brokered private placement (the "Offering") has now been closed. In connection with closing of the Offering, the Company issued 30,000,000 Units (each, a... Keep Reading...
Red "approved" stamp over architectural proposal with technical drawings.

Equinox Gold Secures Federal Approval for Nevada Mine

Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX) has secured federal approval to build the South Railroad mine in Nevada, clearing the primary regulatory hurdle for its next major development project.The US Bureau of Land Management issued a positive record of decision for the site on Monday (August 17),... Keep Reading...

Interactive Chart

Latest Press Releases

Related News