Harte Gold Announces Closing of Second Tranche Under Private Placement
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TORONTO, ONTARIO--(Marketwired - Dec 31, 2014) - Harte Gold Corp. ("Harte Gold") (TSX:HRT)(FRANKFURT:H4O) has raised gross proceeds of $706,480 including $27,000 pursuant to the closing today (previous closing December 24, 2014) of a non-brokered private placement of up to 5,000,000 Units priced at $0.05 and 12,500,000 Flow-Through Units priced at $0.06 for gross proceeds of up to $1,000,000. A total of 5,000,000 Units are available subject to early closing, until January 23, 2015.
Harte Gold issued 450,000 Flow-Through Units ("FT Unit") at $0.06 per FT Unit. Each FT Unit consists of one common share and one-half common share purchase warrant. Each full warrant is exercisable at $0.15 for a period of eighteen (18) months from closing. Units are priced at $0.05 each and consist of one common share and one common share purchase warrant exercisable at $0.15 for a period of eighteen (18) months from closing.
Finder's fees payable under the private placement consist of a cash payment equal to 5% of cash raised and that number of common share purchase warrants exercisable at $0.06 for a period of eighteen (18) months from closing, equal to 5% of the number of Units and FT Units issued pursuant to the private placement. No Finder's fees were paid in connection with today's closing.
All common share purchase warrants issued under the private placement are subject to an accelerated expiry provision. Should the closing price of Harte Gold common shares on the Toronto Stock Exchange be equal to or greater than $0.20 for 10 consecutive trading days any time after closing, Harte Gold may accelerate the expiry date of the warrants by giving notice to the warrant holders through the issuance of a press release. The warrants will expire on the 30th day after the date on which such notice.
Proceeds from the private placement will fund exploration on Harte Gold's Ontario properties as well as permitting and development work related to the advanced exploration project at its 100% owned Sugar Zone property and, general corporate purposes.
About Harte Gold Corp.
Harte Gold Corp. is focused on the exploration and development of its 100% owned Sugar Zone property and is currently permitting an advanced exploration program for the Sugar Zone Deposit. The Sugar Zone property is located 60 kilometers east of the Hemlo Gold Camp and as of February 2011, contains an Indicated Resource of 980,900 tonnes, grading 10.13 g/t for 319,280 ounces of contained gold (uncapped) and an Inferred Resource of 580,500 tonnes, grading 8.36 g/t Au for 155,960 ounces of contained gold (uncapped). The mineral resource was prepared in compliance with NI 43-101. Harte also holds the Stoughton-Abitibi property located on and adjacent to the Destor-Porcupine Fault Zone in close proximity to the Holt-Holloway Gold Mine in the Timmins, Ontario Porcupine gold camp.
Common Shares Outstanding: 247,240,532
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact
Harte Gold Corp.
Stephen G. Roman
President and CEO
416-368-0999
sgr@hartegold.com
Harte Gold Corp.
David Ellis
Investor Relations Consultant
416-704-0937
davidellis@hartegold.com