By Jennifer Chiou
New York, Sept. 25 - Harvest Gold Corp. announced a non-brokered private placement of up to 12 million units for gross proceeds of up to C$1.8 million.
The company will sell the units at a price of C$0.15 each.
Each unit will be comprised of one common share and one share purchase warrant.
Each warrant is exercisable to purchase one additional common share over a two-year period at a price of C$0.25 per share. If the volume-weighted average trading price of the company's shares exceeds C$0.35 for 20 consecutive trading days, Harvest Gold will have the right to accelerate the expiry date of the warrants to 30 days following the date of the notice.
Proceeds will be used to develop the Rosebud Mine property in Nevada, expand the company's property portfolio and for general working capital.
Harvest Gold is a Vancouver, B.C.-based gold mining company.
| Issuer: | Harvest Gold Corp.
|
| Issue: | Units of one share and one share purchase warrant
|
| Amount: | Up to C$1.8 million
|
| Units: | 12 million
|
| Price: | C$0.15
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Announcement date: | Sept. 25
|
| Stock symbol: | TSX Venture: HVG
|
| Stock price: | C$0.16 at close on Sept. 25
|
| Market capitalization: | C$6.9 million
|
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