Non-brokered deal funds exploration and permitting, corporate purposes
By Devika Patel
Knoxville, Tenn., July 25 - Harte Gold Corp. said it took in C$507,250 in the second tranche of a C$2.07 million non-brokered private placement of units and stock. The company raised C$1.56 million in the first tranche on June 18.
The company sold 6 million units of one common share and half-share warrant at C$0.25 per unit. Each whole warrant is exercisable at C$0.35 for one year.
Harte Gold also sold 1,882,500 flow-through common shares at C$0.30 per share.
The company sold 5.25 million units and 816,667 shares in the initial tranche and 750,000 units and 1,065,833 shares in the second tranche.
The price per share is a 25% premium to the June 15 closing share price of C$0.24. The warrant strike price is a 45.83% premium to that price.
Proceeds will be used for exploration and permitting and technical studies associated with advanced exploration at the company'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 common shares
|
| Amount: | C$2,064,750
|
| Settlement date: | June 18 (for C$1,557,500), July 25 (for C$507,250)
|
| Agent: | Non-brokered
|
| Stock symbol: | Toronto: HRT
|
| Stock price: | C$0.24 at close June 15
|
| Market capitalization: | C$41.25 million
|
|
|
| Units
|
| Amount: | C$1.5 million
|
| Units: | 6 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.35
|
|
|
| Stock
|
| Amount: | C$564,750
|
| Units: | 1,882,500
|
| Price: | C$0.30
|
| Warrants: | No
|
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