TORONTO, ONTARIO--(Marketwired - June 23, 2014) - HARTE GOLD CORP. ("Harte Gold") (TSX:HRT)(FRANKFURT:H4O) is pleased to announce it has raised gross proceeds of $1,350,000 pursuant to the closing today of its oversubscribed, non-brokered private placement of 6,000,000 Units and 4,000,000 Flow-Through Units.
Units were priced at $0.125 each and consist of one common share and one common share purchase warrant exercisable at $0.20 for a period of eighteen months from closing. Flow-Through Units were priced at $0.15 each and consist of one common share and one common share purchase warrant exercisable at $0.20 for a period of eighteen months from closing.
Finder's fees payable in connection with the private placement consist of a cash payment equal to 7% of cash raised and that number of common share purchase warrants equal to 7% of the number of Units and Flow-Through Units issued pursuant to certain orders in the private placement for a total of $58,800 and 451,733 warrants. Each Finder's warrant is exercisable at $0.15 for a period of eighteen months from closing.
Common share purchase warrants issued under the private placement (Unit, Flow-Through Unit and Finder's warrants), are subject to an acceleration clause. In the event the closing price of Harte Gold common shares is equal to or greater than $0.30 for a period of 10 consecutive trading days, Harte Gold may accelerate the expiry date of the warrants by giving notice to the holders thereof through the issuance of a press release. In such case, the warrants will expire on the 30th day after the date on which such notice is given.
Proceeds from the private placement will fund the Summer 2014 drill program, development work related to the advanced exploration project at Harte Gold's 100% owned Sugar Zone property and, general corporate purposes.
The Phase 2 Induced Polarization/Magnetometer ("IP/Mag") survey (see news release dated June 2, 2014) is now complete and pending completion of the compilation report, results will be released prior to the Harte Gold Annual General and Special Meeting to be held this Thursday, June 26, 2014.
About Harte Gold Corp.
Harte Gold Corp. is focused on the 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 kilometres east of the Hemlo Gold Camp. and contains an NI 43-101 compliant 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). 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 Holt-Holloway Gold Mine in the Timmins, OntarioPorcupine gold camp.
Common Shares Outstanding: 226,995,346
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Harte Gold Corp.Stephen G. Roman
President and CEO
firstname.lastname@example.orgHarte Gold Corp.David Ellis
Investor Relations Consultant
Source: Harte Gold Corp.