VANCOUVER, Jan. 10, 2017 /CNW/ - Heatherdale Resources Ltd.
("Heatherdale" or the "Company") (TSXV: HTR) announces that it
plans to complete a private placement of up to approximately
26,000,000 units ("Units") of the Company at a price of
C$0.05 per Unit (the "Issue
Price") for proceeds of up to approximately C$1.3 million (the "Offering").
Each Unit shall consist of one common share in the capital of
the Company (a "Share") and one common share purchase warrant (a
"Warrant"). Each Warrant shall entitle the holder to purchase
one additional Share (a "Warrant Share") at a price of C$0.07 per Warrant Share for a period of two
years from the date of closing of the Offering.
The Units, Shares and Warrant Shares will be subject to
applicable resale restrictions, including a four month hold period
from date of closing of the Offering under applicable Canadian
securities laws. Completion of the Offering is subject to
regulatory approval, including approval of the TSX Venture
Exchange.
Proceeds will be used to advance the Company's Niblack Project
and for general corporate working capital purposes.
About Heatherdale
Heatherdale Resources Ltd. is focused on advancing its
copper-gold-zinc-silver mine development opportunity at the Niblack
Project in southeastern Alaska.
On behalf of the Board of Directors
Scott Cousens
Chairman
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address exploration
drilling, exploitation activities and events or developments that
the company expects are forward-looking statements. Although the
Company believes the expectations expressed in forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in the
forward-looking statements. There is no certainty that the
Company will be able to repay the Loans or any other outstanding
debt or liability of the Company in a timely manner or at
all. Assumptions used by the Company to develop
forward-looking statements include the following: the Niblack
project will obtain all required environmental and other permits
and all land use and other licenses, studies and exploration of the
Niblack project will continue to be positive, and no geological or
technical problems will occur. Factors that could cause
actual results to differ materially from those in forward-looking
statements include market prices, potential environmental issues or
liabilities associated with exploration, development and mining
activities, exploitation and exploration successes, continuity of
mineralization, uncertainties related to the ability to obtain
necessary permits, licenses and title and delays due to third party
opposition, changes in government policies regarding mining and
natural resource exploration and exploitation, and continued
availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. For more information on
the Company, investors should review the Company's continuous
disclosure filings that are available at www.sedar.com.
SOURCE Heatherdale Resources Ltd.