
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...
50m
Brien Lundin: Rising Debt and Currency Risks Could Drive Gold Higher
Brien Lundin says rising government debt and weaker currencies could help keep gold prices high over the long term, even as the market faces short-term ups and downs.Speaking at the New Orleans Investment Conference, Lundin, the editor of Gold Newsletter, said that although gold and silver have... Keep Reading...
23h
Craig Hemke: Gold, Silver — Stack on Weakness, "Ultimate Game Changer" Ahead
Craig Hemke, publisher of TFMetalsReport.com, shares his perspective on recent declines in gold and silver, saying that while prices can still go lower, ultimately the math will work out in favor of precious metals and send them to much higher levels. "Gold's just gold. It just sits there.... Keep Reading...
23h
Tavi Costa: Gold Price Takes a Hit — 3 Reasons Why, What's Next
Tavi Costa, CEO of Azuria Capital, weighs in on recent price declines in gold and silver, emphasizing that bottoming is a process that won't happen immediately. In his view, that setup makes the metals more appealing than copper, which has held onto its gains. "I think that the catch-up trade... Keep Reading...
23h
Dana Samuelson: Gold, Silver Prices Drop — Next Support Levels to Watch
Last week silver and gold fell below US$50 per ounce and US$4,000 per ounce, respectively, and Dana Samuelson president of American Gold Exchange, believes the bottom may not yet be in. Speaking a day before those declines, he said lower prices are an economic signal to watch. Don't forget to... Keep Reading...
02 November
Prince Silver: Maiden Resource Estimate in 2027, Manganese Upside
In an interview with the Investing News Network at the New Orleans Investment Conference, Prince Silver (CSE:PRNC,OTCQX:PRNCF) CEO Derek Iwanaka said the company is targeting a maiden resource estimate for its flagship Prince silver project in Nevada, scheduled for early 2027. He also discussed... Keep Reading...
31 October
Peter Schiff: Gold’s Slide Rests on Bet the Fed Can’t Deliver
The gold price fell to a one year low on Friday (October 30) as a drop in tech stocks pressured precious metals. According to Reuters, falling tech stocks may have prompted investors to sell gold to cover losses elsewhere in the market. Commerzbank (ETR:CBK) analysts suggested precious metals... 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







