Harte Gold Closes Private Placement & Announces Strategic Investor
July 21, 2016 (Source) — HARTE GOLD CORP. (“Harte Gold”) (TSX:HRT)(OTC:HRTFF)(FRANKFURT:H4O) has raised gross proceeds of $4,050,000 pursuant to the closing on July 20, 2016 of a non-brokered private placement of 13,500,000 Units (“Units”) priced at $0.30 per Unit.
Each Unit consists of one common share and one common share purchase warrant exercisable at $0.35 for a period of two years from Closing. Finder’s fees payable under the private placement consist of a cash payment equal to 5% of cash raised pursuant to certain orders, for a total of $154,500.
Harte Gold is pleased to announce that JJR Private Capital (“JJR”), through one of its subsidiaries, has subscribed for 10,000,000 Units, for gross proceeds of $3,000,000.
Stephen G. Roman, President and CEO of Harte Gold, commented “We are very pleased to welcome JJR Private Capital as a new strategic shareholder of Harte Gold. JJR’s strong management team has a successful track record of identifying emerging growth companies. JJR’s entrepreneurial spirit and established relationships in the investment community in North America and overse as will serve Harte Gold well as we accelerate the pace of exploration at the Sugar Zone property and move towards commercial production.”
“Our investment in Harte Gold is in line with JJR’s proven strategy of making early investments to sponsor high quality management teams with significant growth potential and unique market opportunities,” said Ron Schmeichel, Chairman of JJR.
Proceeds from the private placement will fund exploration work on the Company’s Sugar Zone Property, the fully permitted 70,000 tonne Advanced Exploration Bulk Sample Project and, commercial production permitting.
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About Harte Gold Corp.
Harte Gold Corp. is focused on the exploration and development of its 100% owned Sugar Zone property where it has permitted a 70,000 tonne Advanced Exploration Bulk Sample for the Sugar Zone Deposit. The Sugar Zone property is located 60 kilometers east of the Hemlo Gold Camp and as per the Preliminary Economic Assessment dated July 12, 2012, contains an 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). The mineral resource was prepared in compliance with NI 43-101 guidelines. George A. Flach P. Geo, Vice President Exploration, is the Qualified Person for Harte Gold. Harte Gold also holds the Stoughton-Abitibi property located on the Destor-Porcupine Fault Zone adjacent and on strike of the Holloway Gold Mine.
About JJR Private Capital
JJR Private Capital is a private merchant banking firm that specializes in financing private and public middle market companies. Through its Equity Funds, Credit Funds, and other innovative capital solutions, JJR sponsors high quality management teams and provides capital investments to high-growth businesses ranging in size from $50 million to $500 million in enterprise value.
Common Shares Outstanding: 343,527,281
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