
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
INN Article Notification
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...
5h
iMetal Resources Announces Non-Brokered Private Placement
iMetal Resources Inc. (TSXV: IMR,OTC:IMRFF) (OTCQB: IMRFF) (FSE: A7VA) ("iMetal" or the "Company") is pleased to announce that it will offer (the "Offering") up to 40,000,000 units (each, a "Unit") at a price of $0.10 per Unit, by way of non-brokered private placement, for gross proceeds of up... Keep Reading...
9h
Court Validates Seabridge Gold’s Work Status on Stalled KSM Project
Seabridge Gold (TSX:SEA,NYSE:SA) has secured a favorable but conditional ruling from the BC Supreme Court regarding the development status of its long-stalled KSM project.The court has upheld the BC Environmental Assessment Office’s (EAO) determination that Seabridge had "substantially started"... Keep Reading...
08 June
Chris Blasi: Gold Bull Run Not Over, "Ultimate Target" Still Much Higher
Chris Blasi, president of Neptune Global, says gold's price run isn't over — while he expects a summer of consolidation, he believes the metal is still in a bull market. He also shares his thoughts on silver, platinum and palladium. Don't forget to follow us @INN_Resource for real-time... Keep Reading...
05 June
Editor's Picks: Gold, Silver Prices Take a Hit, Russia Makes Bold Gold Claim
Gold was shaping up to have a fairly calm week, but a stronger-than-expected US jobs report sent it well under US$4,400 per ounce as the period came to an end.Silver also took a hit, dropping below US$69 per ounce.The report, which shows that nonfarm payrolls rose by 172,000 in May, has further... Keep Reading...
05 June
Russia Claims Record Gold Output as Production Estimates Diverge
Russia's natural resources minister surprised the mining industry this week with news that the country's gold output may have hit 485 metric tons in 2025, and should come in at 480 to 500 metric tons this year. The figures are in contrast to independent estimates — according to Metals Focus,... Keep Reading...
04 June
Chris Vermeulen: Gold, Silver Prices — My Upside and Downside Targets
Chris Vermeulen, chief market strategist at TheTechnicalTraders.com, shares his outlook for gold and silver, saying he believes the current cycle is only halfway through. However, he thinks prices for both metals could fall further before resuming their uptrend.Don’t forget to follow us... 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







