Harte Gold Provides Update on Strategic Review Process and Announces Resignation of Appian Nominees from Harte Gold's Board of Directors
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TORONTO, July 20, 2021 - Harte Gold Corp. ("Harte Gold" or the "Company") (TSX: HRT) (OTC: HRTFF) (Frankfurt: H4O) announced today an update to its strategic review process and the resignation of Appian's nominees from its board of directors (the "Board").
Strategic Review Process
On May 13, 2021, the Company announced it would be initiating a strategic review process to explore, review and evaluate a broad range of alternatives focused on ensuring the Company's financial liquidity and to fund accelerated life-of-mine capital.
As announced on June 8, 2021, the Board established a Strategic Committee to support management in evaluating all strategic alternatives. The Strategic Committee members were Joseph Conway (Chair), Douglas Cater and Geoffrey Cohen.
To support the continuation of the strategic review process, the Board established a Special Committee, comprised of the Company's independent directors, Joseph Conway and Douglas Cater, yesterday.
There can be no assurance that the strategic review process will result in any transaction or, if a transaction is concluded, what the terms or timing of such a transaction will be. The Company will provide an update when further disclosure is required or otherwise appropriate.
Resignation of Appian Nominees
The Board received resignations from Appian's nominees to the Board (Michael Scherb, Geoffrey Cohen and Igor Gonzales) late yesterday evening. The resignations are effective immediately.
About Harte Gold Corp.
Harte Gold holds a 100% interest in the Sugar Zone mine located in White River, Canada. The Sugar Zone Mine entered commercial production in 2019. The Company has further potential through exploration at the Sugar Zone Property, which encompasses 81,287 hectares covering a significant greenstone belt. Harte Gold trades on the TSX under the symbol "HRT", on the OTC under the symbol "HRTFF" and on the Frankfurt Exchange under the symbol "H4O".
Cautionary note regarding forward-looking information:
This news release includes "forward-looking statements", within the meaning of applicable securities legislation, which are based on the opinions and estimates of management and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar words suggesting future outcomes or statements regarding an outlook. Specific forward-looking statements in this press release include, but are not limited to, the Company providing an update when further disclosure is required or otherwise appropriate. Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such risks and uncertainties include, but are not limited to, there being no events of default or breaches of key financing agreements, including agreements with BNP Paribas and Appian; the Company being able to attract and retain qualified candidates to join the Company's management team and board of directors, risks associated with the mining industry, including operational risks in exploration, development and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; the uncertainty surrounding the ability of the Company to obtain all permits, agreements, consents or authorizations required for its operations and activities; and health, safety and environmental risks, the risk of commodity price and foreign exchange rate fluctuations, the ability of Harte Gold to fund the capital and operating expenses necessary to achieve the business objectives of Harte Gold, the uncertainty associated with commercial negotiations and negotiating with contractors and other parties and risks associated with international business activities, as well as other risks and uncertainties which are more fully described in the Company's Annual Information Form dated March 30, 2021, and in other filings of the Company with securities and regulatory authorities which are available on SEDAR at www.sedar.com. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in securities of the Company should not place undue reliance on these forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors are not exhaustive. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or in any other documents filed with Canadian securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The forward-looking statements are expressly qualified by this cautionary statement. The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE Harte Gold Corp.
Contact
please visit www.hartegold.com or contact: Shawn Howarth, Vice President, Corporate Development and Investor Relations, Tel : 416-368-0999, E-mail : sh@hartegold.com