Proceeds of non-brokered deal fund exploration of Sugar Zone property
By Devika Patel
Knoxville, Tenn., July 31 - Harte Gold Corp. said it raised C$213,800 in the second tranche of a C$2 million non-brokered private placement of units. The deal took in C$660,000 on July 17.
The company is selling 6.25 million units of one common share and one warrant at C$0.08 per unit and 15 million flow-through units of one flow-through common share and one half-share warrant at C$0.10 per unit.
Each whole warrant will be exercisable at C$0.15 for two years. The strike price represents an 87.5% premium to the July 16 closing share price of C$0.08.
In the first tranche, Harte Gold sold 125,000 units and 6.5 million flow-through units. It sold 1,985,000 units and 550,000 flow-through units in the second tranche.
Settlement of the final tranche is expected Aug. 23.
Proceeds will be used for exploration and permitting and development work at Harte Gold'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 warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$2 million
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Settlement dates: | July 17 (for C$660,000), July 31 (for C$213,800), Aug. 23
|
| Stock symbol: | Toronto: HRT
|
| Stock price: | C$0.08 at close July 16
|
| Market capitalization: | C$16.17 million
|
|
|
| Units
|
| Amount: | C$500,000
|
| Units: | 6.25 million
|
| Price: | C$0.08
|
| Warrants: | One warrant per unit
|
|
|
| Flow-through units
|
| Amount: | C$1.5 million
|
| Units: | 15 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
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