Antler Gold Purchases Subsidiaries from Sona Nanotech
TSX VENTURE: ANTL
HALIFAX, June 14, 2019 /CNW/ - Antler Gold Inc. ("Antler") (TSXV: ANTL) and Sona Nanotech Inc. ("Sona") (CSE: SONA) are pleased to announce that they have closed Antler's acquisition of two subsidiaries of Sona that own technical and physical data on historical mineral interests in Mexico, and associated offsetting intercompany receivables, for a purchase price of $1.00 (the "Transaction"), as previously announced. The assets and third party liabilities are nominal for both subsidiaries.
The Transaction is a Non-Arm's Length transaction pursuant to TSX Venture Exchange policies, as Daniel Whittaker is the CEO and a director of Antler and a director of Sona; Robert Randall is the Chief Financial Officer of both Antler and Sona; and Wade Dawe is a significant shareholder of both Antler and Sona. The Transaction may also be a related party transaction pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions ("MI 61-101"); however, Antler and Sona are exempt from the valuation and minority approval requirements in MI 61-101 as the fair market value of the assets acquired by Antler does not exceed 25% of their respective market capitalizations.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.