Non-brokered deal slated to fund exploration, permitting, development
By Devika Patel
Knoxville, Tenn., Dec. 24 – Harte Gold Corp. said it raised C$250,000 in the second tranche of a C$1 million non-brokered private placement of units. The deal raised C$679,480 on Dec. 24.
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. It sold 5 million units in the second tranche.
Proceeds will be used for exploration, permitting and development work at Harte Gold’s properties and for general corporate purposes.
Harte Gold also said it has raised C$270,100 in the initial closing of a C$300,000 non-brokered private placement of up to 5 million units of one common share and one warrant at C$0.06 per unit. These warrants are each exercisable at C$0.15 for 18 months.
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 dates: | Dec. 24 (for C$679,480), Jan. 23 (for C$250,000)
|
| Stock symbol: | Toronto: HRT
|
| Stock price: | C$0.06 at close Dec. 23
|
| Market capitalization: | C$14.07 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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