Hathor Exploration Limited
TSX VENTURE : HAT

Hathor Exploration Limited

November 20, 2008 13:13 ET

Hathor Exploration Limited: Brokered Private Placement at $3.10 Per Share Closes Over-Subscribed Raising Gross Proceeds of $8,002,650

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 20, 2008) - Stephen G. Stanley, the President of Hathor Exploration Limited (HAT: TSX-V, the "Company"), announces the Company has closed a brokered private placement with Salman Partners Inc., HSBC Securities (Canada) Inc., Cormark Securities Inc., Raymond James Ltd., and J.F. Mackie & Company Ltd. (the "Agents"), previously announced on November 5, 2008.

A total of 2,581,500 flow-through common shares (the "FT Shares"), (which includes 646,000 FT Shares issuable upon exercise of an Over-Subscription Option) were sold at a price of $3.10 per FT Share.

The Agents received a cash commission on the sale of the FT Shares, representing 5.5% of the gross proceeds raised, totalling $440,145.75. The Company also issued share purchase warrants to the Agents (the "Agents' Warrants") entitling the Agents to purchase an additional 141,982 non flow-through common shares (the "Agents' Warrant Shares") at the price of $3.10 per common share until the close of business on November 20, 2010.

In accordance with securities legislation currently in effect, the FT Shares, Agents' Warrants and Agents' Warrant Shares will be subject to "hold period" of four months plus one day from the date of closing, expiring March 21, 2009.

The net proceeds will be used to fund further exploration of the Company's Midwest Northeast Uranium property, Saskatchewan and other Canadian exploration properties.

Hathor Exploration Limited

Stephen G. Stanley, Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • Hathor Exploration Limited
    Stephen Stanley
    (604) 684-6707
    or
    Hathor Exploration Limited
    Tony Nunziata
    (403) 560-7040
    Website: www.hathor.ca