HARTE GOLD CORP. (“Harte Gold” or the “Company”) (TSX: HRT / OTC: HRTFF / Frankfurt: H4O) announced it has raised gross proceeds of $6,951,360 including $1,084,400 pursuant to the closing today (initial closing October 22, 2018) of its non-brokered private placement of flow-through shares (“FT Shares”). Harte Gold issued a total of 13,368,000 FT Shares priced at $0.52 per FT Share.
Finder’s fees payable under the private placement 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 Shares issued in connection with certain orders, for a total of $61,526 and 118,319 warrants. Finder’s warrants are exercisable at $0.52 for a period of eighteen (18) months from closing.
Proceeds from the private placement will fund exploration work on the Company’s Sugar Zone and Stoughton Abitibi properties.