Harte Gold Announces $2.24 Million Initial Closing Under Private Placement
December 04 2012 - 5:28PM
Marketwired
HARTE GOLD CORP. ("Harte Gold") (TSX:HRT)(FRANKFURT:H4O) has raised
gross proceeds of $2,242,940 pursuant to the initial closing of a
non-brokered private placement of up to 6,666,667 Units priced at
$0.15 and 11,764,706 Flow-Through Units priced at $0.17 for gross
proceeds of up to $3 million. Additional closings will occur on or
before December 27, 2012.
Harte Gold issued 3,332,000 Units at $0.15 per Unit. Each Unit
consists of one common share and one-half common share purchase
warrant. Each full warrant is exercisable at $0.25 for a period of
eighteen (18) months from closing. Harte also issued 10,264,352
Flow-Through Units at $0.17 per Unit. Each Unit consists of one
flow-through common share and one-half common share purchase
warrant. Each full warrant is exercisable at $0.25 for a period of
eighteen (18) months from closing.
Finder's fees payable in connection with the private placement
consist of a cash payment equal to 6% of cash raised and that
number of common share purchase warrants equal to 6% of the number
of Units and Flow-Through Units issued pursuant to certain orders
in the private placement, for a total of $58,625 and 508,236
warrants. Each Finder's warrant is exercisable at $0.18 for a
period of eighteen (18) months from closing.
Proceeds from the private placement will fund exploration and
permitting and technical studies related to the advanced
exploration project at Harte Gold's 100% owned Sugar Zone property
and, general corporate purposes.
About Harte Gold Corp.
Harte Gold Corp. is focused on the development of its 100% owned
Sugar Zone property and is currently permitting an advanced
exploration program for the Sugar Zone Deposit. The Sugar Zone
property is located 60 kilometres east of the Hemlo Gold Camp. and
contains an NI 43-101 compliant Indicated Resource of 980,900
tonnes, grading 10.13 g/t for 319,280 ounces of contained gold
(uncapped) and an Inferred Resource of 580,500 tonnes, grading 8.36
g/t Au for 155,960 ounces of contained gold (uncapped). Harte also
holds the Stoughton-Abitibi property located on and adjacent to the
Destor-Porcupine Fault Zone in close proximity to the 2.5 million
ounce Holt-Holloway Gold Mine in the Timmins, Ontario Porcupine
gold camp.
Common Shares Outstanding: 186,454,966
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Harte Gold Corp. Stephen G. Roman President and CEO
416-368-0999sgr@hartegold.com Harte Gold Corp. David Ellis Investor
Relations Consultant 416-704-0937davidellis@hartegold.com