Deal sells two-year 15% note and 40,000 warrants per C$10,000 invested
By Devika Patel
Knoxville, Tenn., March 22 – Harte Gold Corp. said it completed a C$2.5 million non-brokered private placement of debt units.
The company sold 250 units, with each unit consisting of one C$10,000 secured note and warrants for 40,000 shares.
The 15% notes mature in two years.
Each warrant is exercisable at C$0.15 for two years. The strike price reflects a 31.82% discount to the March 21 closing share price of C$0.22.
Proceeds will be allocated to Harte Gold’s Advanced Exploration and Bulk Sample Project and also be used for commercial permitting and exploration at the company’s Ontario properties.
Harte is a gold exploration company based in Toronto.
| Issuer: | Harte Gold Corp.
|
| Issue: | Units of one C$10,000 secured note and warrants for 40,000 shares
|
| Amount: | C$2.5 million
|
| Units: | 250
|
| Price: | C$10,000
|
| Maturity: | Two years
|
| Coupon: | 15%
|
| Warrants: | Warrants for 40,000 shares per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agents: | Non-brokered
|
| Settlement date: | March 22
|
| Stock symbol: | Toronto: HRT
|
| Stock price: | C$0.22 at close March 21
|
| Market capitalization: | C$53.61 million
|
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