Harte Announces $900,000 Initial Closing Under Private Placement
July 06 2011 - 8:30AM
Marketwired
HARTE GOLD CORP. ("Harte") (TSX: HRT) (FRANKFURT: H4O) has raised
gross proceeds of $900,000 and issued 2,250,000 flow through common
shares pursuant to the initial closing of a non-brokered private
placement of up to 3,125,000 flow through common shares priced at
$0.40 for gross proceeds of up to $1.25 million. Final closing is
scheduled for July 15, 2011. Proceeds from the private placement
will be focused on Harte's Sugar Zone Property in White River,
Ontario.
Finder's fees payable in connection with the private placement
consist of a cash payment equal to 5% of cash raised and that
number of common share purchase warrants equal to 5% of the flow
through common shares issued pursuant to certain orders in the
private placement, for a total of $28,450 and 71,125 warrants. Each
Finder's warrant is exercisable into one common share on payment of
$0.40 for a period of 12 months from closing.
About Harte Gold Corp.
Harte Gold Corp. is a Canadian gold exploration company with
interests in the Sugar Zone and Stoughton-Abitibi properties
located in Ontario, Canada. The Sugar Zone Property is located 60
kilometres east of the Hemlo Gold Camp and holds an NI 43-101
compliant Indicated Resource of 1,117,000 tonnes, grading 8.41 g/t
Au for 302,000 ounces of contained gold and an Inferred Resource of
417,000 tonnes, grading 7.13 g/t Au for 95,000 ounces of contained
gold. Harte is the operator of the Sugar Zone Property and
currently owns a 49% interest with the option to acquire the
remaining 51% for consideration equal to $90,000 every six months
until payment of $2.5 million by May 28, 2012 or $3 million by May
28, 2013. Harte also holds the Stoughton-Abitibi property located
on and adjacent to the Destor-Porcupine Fault Zone in close
proximity to the 2.5 million ounce Holloway-Holt Gold Mine in the
Timmins Porcupine gold camp.
Common Shares Outstanding: 144,770,063
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: 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
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