Proceeds of non-brokered deal fund exploration of Haig Inlet property
By Devika Patel
Knoxville, Tenn., Dec. 27 - Harte Gold Corp. said it raised C$622,180 in the second and final tranche of a C$2.87 million non-brokered private placement of units. The deal, which was to have raised up to C$3 million, raised C$2.24 million on Dec. 4.
The company sold 3,899,000 units of one common share and one half-share warrant at C$0.15 per unit and 13,423,940 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. It sold 567,000 units and 3,159,588 flow-through units in the second tranche.
Proceeds will be used for exploration and permitting and technical studies at Harte Gold's Sugar Zone property and for 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$2,866,920
|
| 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 dates: | Dec. 4 (for C$2,244,740), Dec. 27 (for C$622,180)
|
| Stock symbol: | Toronto: HRT
|
| Stock price: | C$0.15 at close Dec. 3
|
| Market capitalization: | C$25.93 million
|
|
|
| Units
|
| Amount: | C$584,850
|
| Units: | 3,899,000
|
| Price: | C$0.15
|
|
|
| Flow-through units
|
| Amount: | C$2,282,070
|
| Units: | 13,423,940
|
| Price: | C$0.17
|
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