Hathor Exploration Limited
TSX VENTURE : HAT

Hathor Exploration Limited

June 12, 2008 14:04 ET

Hathor Exploration Limited: Bought Deal Closes, Raising Gross Proceeds of $15,000,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

Stephen G. Stanley, the President of Hathor Exploration Limited (HAT: TSX-V, "Hathor" or the "Company"), announces that the Company has closed an underwritten bought deal private placement, previously announced on May 23, 2008. The offering consisted of 5,000,000 common shares at a price of $3.00 per share. Gross proceeds were $15,000,000, which includes the proceeds of an Underwriters' option for one million shares which was exercised in full.

The offering was made through a syndicate of underwriters led by Cormark Securities Inc., and including Desjardins Securities Inc., Dundee Securities Corp., Salman Partners Inc. and PI Financial Corp. The underwriters received a cash commission of 6% of the gross proceeds, and brokers' warrants entitling the underwriters to purchase up to 300,000 shares of the Company at a price of $3.00 per share for a period of two years.

In accordance with securities legislation currently in effect, the securities issued will be subject to a "hold period" of four months plus one day from the date of closing, expiring October 12, 2008.

The net proceeds will be used for exploration and development of Hathor's uranium projects in Saskatchewan, including an aggressive drilling program on the Company's Midwest Northeast Project, and for general working capital.

For more information on Hathor and its projects please visit our web site at http://www.hathor.ca.

Hathor Exploration Limited

Stephen G. Stanley, President

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of the contents 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