Harte Gold gets exploration funds; Seafield deal oversubscribed; Canadian Quantum plans issue

By Stephanie N. Rotondo

Portland, Ore., June 11 - A few PIPE deals got done Friday, including a private stock and unit sale from Harte Gold Corp.

The company completed its second and final tranche of its private placement, taking in C$1.4 million. All told, the company raised more than C$5 million, which will be used for exploration.

Seafield Resources Ltd. also wrapped a deal, which was oversubscribed. The company pocketed C$2.95 million, well above its original aim of C$2.5 million.

Among new deals, Canadian Quantum Energy Corp. announced a C$2.09 million private placement of flow-through shares. The company expects that the funds will be enough to satisfy its 2010 capital commitments.

Harte Gold gets exploration funds

Harte Gold settled the second and final tranche of a previously announced private placement of units and stock, taking in a total of C$5.27 million.

The non-brokered deal originally priced at C$5.5 million on May 27. On that date, the company raised C$3.88 million and the remaining C$1.4 million settled June 11.

The Toronto-based gold producer sold approximately 42.74 million units at C$0.10 each. The units held one common share and one half-share warrant.

Whole warrants are exercisable at C$0.125 - just below the C$0.13 share closing price as of May 26 - for 18 months.

Also, the company issued 8 million flow-through common shares at C$0.125 per share.

Proceeds will allow Harte Gold to "aggressively pursue" the exploration and development of its Sugar Zone property, according to a press release.

Harte is the operator of Sugar Zone and owns a 49% interest in the asset. It also has an option to purchase the remaining 51% interest.

Stephen G. Roman, president and chief executive officer, was unavailable for comment.

Harte's equity (TSX Venture: HRT) fell a cent, or 7.69%, to C$0.12. Market capitalization is C$7.51 million.

Seafield deal oversubscribed

Seafield Resources wrapped an oversubscribed private placement of units, raising C$2.95 million.

The deal originally priced at C$2.5 million on May 28.

The company sold approximately 16.86 million of the units at C$0.175 per unit. The units held one common share and one warrant, which is exercisable at C$0.25 for two years.

The warrant strike price represented a 38.8% premium over the stock's closing price of C$0.18 on May 27.

Proceeds will be used for exploration of the company's Colombian gold properties and for working capital.

Calls seeking comment were not returned Friday.

Seafield's stock (TSX Venture: SFF) inched up half a cent, or 2.94%, to C$0.175. Market capitalization is C$13.3 million.

Seafield Resources is a Toronto-based gold mining and exploration company.

Canadian Quantum wants C$2.09 million

Canadian Quantum Energy, a London, Ont.-based petroleum and gas explorer, announced a C$2.09 million private placement of flow-through stock.

The company will issue 1.9 million of the shares in the non-brokered placement at C$1.10 per share.

The price per share represents a 15.79% premium over the C$0.95 closing price on June 10.

"Upon closing of the private placement, Canadian Quantum will be able to meet its expected 2010 capital commitments and continue to participate with its industry partners in the advancement of the Utica Shale Play in Quebec," stated Douglas Brett, president and CEO, in a press release.

Canadian Quantum's shares (TSX Venture: CQM) dropped 4 cents, or 4.26%, to C$0.90. Market capitalization is C$23.4 million.

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