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...
Sandstone exploration drilling returns 157m @ 1.13g/t Au

Sandstone exploration drilling returns 157m @ 1.13g/t Au

Brightstar Resources (BTR:AU) has announced Sandstone exploration drilling returns 157m @ 1.13g/t AuDownload the PDF here. Keep Reading...
Asara Expands Kada Gold Project

Asara Expands Kada Gold Project

Asara Resources (AS1:AU) has announced Asara Expands Kada Gold ProjectDownload the PDF here. Keep Reading...
Pile of gold bars over black background.

5 Best-performing Gold Stocks on the TSX in 2025

The gold price rose to repeated record highs in 2025, gaining more than 57 percent in value from the start of the year.The increase was fueled by several factors, including safe-haven demand led by economic uncertainty as US tariffs, interest rate cuts from the US Federal Reserve as well as the... Keep Reading...
Centurion Announces Extension of Private Placement

Centurion Announces Extension of Private Placement

Centurion Minerals Ltd. (TSXV: CTN) ("Centurion", or the "Company") wishes to announce that, further to its news releases dated October 22, 2025, and November 14, 2025, the Company intends to extend the closing of a second tranche of its non-brokered private placement.The Company announced a... Keep Reading...
iMetal Resources Announces Flow-Through Financing

iMetal Resources Announces Flow-Through Financing

iMetal Resources Inc. (TSXV: IMR,OTC:IMRFF) (OTCQB: IMRFF) (FSE: A7VA) ("iMetal" or the "Company) announces that it will offer (the "Offering") up to 4,000,000 flow-through units (each, an "FT Unit"), at a price of $0.13 per FT Unit, for gross proceeds of up to $520,000, by way of non-brokered... Keep Reading...
Trading Halt

Trading Halt

Astral Resources (AAR:AU) has announced Trading HaltDownload the PDF here. Keep Reading...

Latest Press Releases

Related News