Non-brokered deal funds exploration, development, corporate purposes
By Devika Patel
Knoxville, Tenn., Sept. 21 – Harte Gold Corp. said it raised C$697,700 in the first tranche of a C$2.5 million non-brokered private placement of units.
The company is selling 20 million units of one common share and one half-share warrant at C$0.05 per unit and 25 million flow-through units of one flow-through common share and one quarter-share warrant at C$0.06 per unit.
Harte Gold sold 6,134,000 units and 6,516,666 flow-through units in the initial tranche.
Each whole warrant is exercisable at C$0.15 for 18 months. The strike price is a 150% premium to the Sept. 20 closing share price of C$0.06.
Settlement of the final tranche is expected Oct. 9.
Proceeds will be used for exploration and development work 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 units of one flow-through common share and one quarter-share warrant
|
| Amount: | C$2.5 million
|
| Warrant strike price: | C$0.15
|
| Warrant expiration: | 18 months
|
| Agent: | Non-brokered
|
| Settlement date: | Sept. 21 (for C$697,700), Oct. 9
|
| Stock symbol: | Toronto: HRT
|
| Stock price: | C$0.06 at close Sept. 20
|
| Market capitalization: | C$14.15 million
|
|
|
| Units
|
| Amount: | C$1 million
|
| Units: | 20 million
|
| Price: | C$0.05
|
| Warrants: | One half-share warrant per unit
|
|
|
| Flow-through units
|
| Amount: | C$1.5 million
|
| Units: | 25 million
|
| Price: | C$0.06
|
| Warrants: | One quarter-share warrant per unit
|
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