
April 25, 2024
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
Alert Options
No alert set
INN Article Notification
Alert Option
You will be notified when this event occurs. No additional settings needed.
The Conversation (0)
23 June 2024
Antilles Gold Limited
Developing Gold and Copper Projects in mineral‐rich Cuba
Developing Gold and Copper Projects in mineral‐rich Cuba Keep Reading...
17 February 2025
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...
31 January 2025
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...
12 January 2025
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...
11 December 2024
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...
7h
Brien Lundin: Gold, Bonds Sending Warning — Here's What's Next
Brien Lundin, editor of Gold Newsletter, shares his latest thoughts on gold, saying that for the last couple of months the price has largely been rising alongside real yields in the bond market. In his view, that's a potentially concerning sign for what's ahead. Click here to sign up for the New... Keep Reading...
08 September
John Kaiser: Gold's New Price Base, Plus Stocks I'm Watching Now
John Kaiser of Kaiser Research believes the "mother of all resource junior bull cycles" is currently in its fourth inning, with a "wall of cash" headed for the sector. In his view, now is the time for investors to research which stocks they want to buy.Don't forget to follow us @INN_Resource for... Keep Reading...
08 September
Peruvian Metals on Track for Full Production for 2026 at the Aguila Norte Processing Plant and Reports Positive Sample Results from the Tailings Area
Peruvian Metals Corp. (TSXV: PER,OTC:DUVNF) (OTC PINK: DUVNF) ("Peruvian Metals" or the "Company") announces the completion of a major overall and maintenance program and the year-to-date production results for 2026 at its 80-per-cent-owned Aguila Norte processing plant ("Aguila Norte" or the... Keep Reading...
Latest News
Interactive Chart
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00







