TORONTO, ONTARIO--(Marketwired - Aug. 19, 2014) - HARTE GOLD CORP. ("Harte Gold") (TSX:HRT)(FRANKFURT:H4O)(OTC:HRTFF) has raised gross proceeds of $925,125 pursuant to the closing today of a non-brokered private placement of 272,818 Units and 3,106,485 Flow Through common shares. Units are priced at $0.275 each and consist of one common share and one-half common share purchase warrant. Each full warrant is exercisable at $0.35 for a period of twelve months from closing. Flow Through shares are priced at $0.30 each.
Finder's fees payable in connection with today's closing consist of a cash payment equal to 5% of cash raised and that number of common share purchase warrants equal to 5% of the number of Units issued pursuant to the private placement, for a total of $46,256 and 155,324 warrants. Each Finder's warrant is exercisable at $0.30 for a period of twelve months from closing.
Common share purchase warrants issued under the private placement (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 $0.50 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 current exploration as well as development work related to the advanced exploration project (Sugar Zone Deposit) at Harte Gold's 100% owned Sugar Zone property and, general corporate purposes.
About Harte Gold Corp.
Harte Gold Corp. is focused on the exploration and 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, Ontario Porcupine gold camp.
Common Shares Outstanding: 235,050,865
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.