Namibia: Antler Gold Arranges Private Placement Financing to Advance Exploration in Namibia

Canadian-based gold exploration company, Antler Gold is currently marketing an equity financing to raise C$3,000,000 (N$37,100,000) of which net proceeds will be used to advance exploration work on its Erongo Gold Project in Namibia as well as for general working capital purposes.

The company in a statement said the financing will be raised through a private placement of up to 12,000,000 units of Antler at $0.25 per Unit.

Each Unit will consist of one common share of Antler and one-half share purchase warrant. Each warrant will be exercisable to purchase one common share of Antler at a price of $0.40 per share for a period of 24 months from the closing date of the financing.

Christopher Drysdale from Antler said they have demonstrated their commitment to the Namibia by substantially building their country portfolio since September of 2019 by signing earn-in options on EPL6162 (Esegile Xambseb), EPL5455 (Rhombus Investments), EPL6550 (Eliphas Shipanga) and EPL6408 (Valentina Haufiku).

The company, together with their partner applied for four additional exclusive prospecting licences (EPL's).

"We are excited to continue our work in Namibia and look forward to making a significant gold discovery in the Erongo Region, which is currently being recognized as a world class emerging gold district," Drysdale said.

Antler is a Canadian company, focused on the acquisition and exploration of gold projects in Namibia. Antler's Erongo Gold Project covers areas of the Navachab-Damara Belt, which is highly prospective for gold, and overlies similar lithologies and structures as the known Namibian Gold mines (QKR's Navachab and B2 Golds' Otjikoto) as well as Osino's recent Twin Hills discovery.

More From: Namibia Economist

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