Appian Natural Resources Fund

Appian Natural Resources Fund

July 05, 2017 14:23 ET

Appian Announces Acquisition of Additional Shares of Harte Gold Corp.

JERSEY, CHANNEL ISLANDS--(Marketwired - July 5, 2017) - Appian Natural Resources Fund, L.P. and Appian Natural Resources (UST) Fund, L.P. (together, "Appian") today acquired an aggregate of 19,485,574 common shares of Harte Gold Corp. ("Harte") at a price of $0.62 per common share for an aggregate subscription price of $12,081,056 pursuant to a previously announced $20 million bought deal private placement of common shares by Harte.

Immediately prior to the completion of the private placement, Appian owned and had control and direction over 77,321,871 common shares of Harte representing approximately 17% of the outstanding common shares of Harte at such time. Following completion of the private placement, Appian now owns an aggregate of 96,807,445 common shares of Harte (representing an increase of approximately 2.6% to 19.6% of the outstanding common shares of Harte) and will be entitled to nominate a second director to the board of directors of Harte.

Appian acquired the additional common shares for investment purposes. Appian has a long-term view of the investment. Depending on the development of Harte's business, financial condition, the market for Harte's securities, general economic conditions and other factors, and subject to certain agreed standstill and other restrictions on sale, Appian may acquire additional securities of Harte, or sell all or some of the securities it holds, in the open market, by private agreement or otherwise.

About Appian Natural Resources Fund

Appian is a metals and mining private equity fund formed under the laws of Jersey, Channel Islands providing long-term capital to both private and public mining companies. The advisor to Appian, Appian Capital Advisory LLP (the "Advisor"), is headquartered in London, with an international network in key mining cities. The Advisor has a senior management team that is a combination of professionals from major mining companies, private equity firms and investment banks, bringing together over 150 years of combined mining experience. In aggregate they have managed in excess of 60 mines through to production and concluded over $200 billion worth of mining sector transactions. With a successful track record of value creation across the full mining life cycle, the Advisor's team's strong operating and corporate skills are available to support management teams to optimise assets and ramp up operations that deliver value and generate attractive returns for all investors.

CONTACT

The head office of Harte is located at 8 King Street East, Suite 1800, Toronto, Ontario, Canada M5C 1B5. The common shares of Harte are listed on the Toronto Stock Exchange.

An early warning report will be filed by Appian in accordance with applicable securities laws and will be available under Harte's profile on the SEDAR website at www.sedar.com.

The head office of Appian is located at 47 Esplanade, St Helier, Jersey, Channel Islands JE1 0BD.

For more information, including to obtain a copy of the early warning report to which this press release relates, please contact Michael W. Scherb at the investment advisor to Appian:

Appian Capital Advisory LLP
23 King Street, 1st Floor
London, SW1Y 6QY
United Kingdom
+44 (0) 207 004 0951

Contact Information

  • Appian Capital Advisory LLP
    23 King Street, 1st Floor
    London, SW1Y 6QY
    United Kingdom
    +44 (0) 207 004 0951