Proceeds of non-brokered deal fund exploration of Haig Inlet property
By Devika Patel
Knoxville, Tenn., Dec. 4 - Harte Gold Corp. said it raised C$2.24 million in the initial tranche of a C$3 million non-brokered private placement of units.
The company is selling 6,666,667 units of one common share and one half-share warrant at C$0.15 per unit and 11,764,706 flow-through units of one flow-through common share and one half-share warrant at C$0.17 per unit.
Each whole warrant will be exercisable at C$0.25 for 18 months. The strike price represents a 66.67% premium to the Dec. 3 closing share price of C$0.15.
In the first tranche, Harte Gold sold 3,332,000 units and 10,264,352 flow-through units. Settlement of the final tranche is expected Dec. 27.
Proceeds will be used for exploration and permitting and technical studies at Harte Gold's Sugar Zone property and general corporate purposes.
Harte is a gold exploration company based in Toronto.
| Issuer: | Harte Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$3 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 8
|
| Settlement date: | Dec. 4 (for C$2,244,740), Dec. 27
|
| Stock symbol: | Toronto: HRT
|
| Stock price: | C$0.15 at close Dec. 3
|
| Market capitalization: | C$25.07 million
|
|
|
| Units
|
| Amount: | C$1 million
|
| Units: | 6,666,667
|
| Price: | C$0.15
|
|
|
| Flow-through units
|
| Amount: | C$2 million
|
| Units: | 11,764,706
|
| Price: | C$0.17
|
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