Non-brokered deal slated to fund exploration, permitting, development
By Devika Patel
Knoxville, Tenn., Dec. 24 – Harte Gold Corp. said it raised C$679,480 in the initial tranche of a C$1 million non-brokered private placement of units.
The company is selling 5 million units of one common share and one warrant at C$0.05 per unit and 12.5 million flow-through units of one flow-through common share and one half-share warrant at C$0.06 per unit.
Each whole warrant is exercisable at C$0.15 for 18 months. The strike price represents a 150% premium to the Dec. 23 closing share price of C$0.06.
In the first tranche, Harte Gold sold 11,324,665 flow-through units.
Proceeds will be used for exploration and permitting and development work at Harte Gold’s properties 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 warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$1 million
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Settlement date: | Dec. 24 (for C$679,480)
|
| Stock symbol: | Toronto: HRT
|
| Stock price: | C$0.06 at close Dec. 23
|
| Market capitalization: | C$11.91 million
|
|
|
| Units
|
| Amount: | C$250,000
|
| Units: | 5 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
|
|
| Flow-through units
|
| Amount: | C$750,000
|
| Units: | 12.5 million
|
| Price: | C$0.06
|
| Warrants: | One half-share warrant per unit
|
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