Antilles Gold (ASX:AAU) completed the placement of 262.5 million shares at AU$0.004 apiece and 131.3 million free options to raise AU$1.1 million for working capital and advance the development of the Nueva Sabana mine in Cuba, according to a Tuesday filing with the Australian bourse.

The two investors are existing company shareholders, with 125 million of the shares issued taken up by Asean Group Investments, and 87.5 million shares subscribed for by Lucerne Enterprises, as the nominee of an Indonesian investment group, the filing said.