Harte Gold Corp.

Harte Gold Corp.

April 23, 2009 10:45 ET

Harte Gold Corp. Flow-Through Financing

New Officer Appointment

TORONTO, ONTARIO--(Marketwire - April 23, 2009) - HARTE GOLD CORP. (TSX VENTURE:HRT)(FRANKFURT:H4O) announces the closing of a non brokered private placement or $350,000 through the sale of 2,916,666 units at $0.12 per unit to the MineralFields Group. Each unit consists of one flow-through share and one-half of one warrant, each whole warrant (a "Warrant") entitling the holder to purchase one additional common share at $0.20 for the first year following the date of issue and thereafter for $0.24 until the second anniversary of the issue date. The Warrants further provide that following the expiry of the four month hold period Harte may accelerate the expiry date of the Warrants to the day which is 30 days following notice by Harte that the closing price of its shares on the TSX Venture Exchange has exceeded $0.20 for 20 consecutive trading days.

Proceeds of the issue will be used to fund Harte's share of exploration expenses on Harte's Sugar Zone Property in the Hemlo area of northern Ontario which is held in a joint venture with Corona Gold Corporation.

Cash compensation totalling $35,000 or 10% of the gross proceeds of the placement and 291,666 compensation warrants (amounting to 10% of the number of units issued on the placement) was paid to Limited Market Dealer Inc. ($17,500 and 145,833 compensation units) and to Integral Wealth Securities Inc. ($17,500 and 145,833 compensation units) for their services in connection with the placement. Each compensation warrant entitles the holder to purchase one unit consisting of one common share and one-half a Warrant at $0.12 per compensation unit for a period of two years.

"We are very pleased to be entering into this relationship with MineralFields Group", said Stephen Roman, President and CEO. "This is an important milestone in the growth of Harte Gold Corp. and we look forward to working with MineralFields Group providing funds to enable continued exploration of this exciting gold property."

All securities issued are subject to a hold period of four months and one day from the date of issue in accordance with applicable securities laws and the requirements of the TSX Venture Exchange.

Appointment of Tim Campbell as Vice President

Harte is also pleased to announce the appointment of Tim Campbell as Vice-President. Mr. Campbell has provided corporate finance, regulatory compliance and other management services to junior issuers since 1995.

About MineralFields, Pathway and First Canadian Securities®

MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities® is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities®.

About Harte Gold Corp.

Harte Gold Corp. is a Canadian minerals exploration company with interests in the Sugar Zone and Stoughton-Abitibi properties located in Ontario, Canada. The Sugar Zone Property is located 60 kms east of the Hemlo Gold Camp and holds an NI 43-101 compliant inferred resource of 904,400 tonnes grading 9.75 g/t Au for 283,500 ounces of contained gold. Corona Gold Corporation is a 51% partner on the Sugar Zone and is the project operator. The Stoughton-Abitibi property is located on and adjacent to the Destor-Porcupine Fault on strike from the 2.5 million gold ounce Holloway-Holt Mine in the Timmins Porcupine gold camp.

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

Contact Information

  • Harte Gold Corp.
    Mr. Stephen G. Roman