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Harte Gold Announces US$82.5 Million Financing and 800 TPD Permits

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Harte Gold Announces US$82.5 Million Financing and 800 TPD Permits

Toronto, ON: HARTE GOLD CORP. (“Harte Gold” or the “Company”) (TSX: HRT / OTC: HRTFF / Frankfurt: H4O) is pleased to announce a total refinancing of its existing debt and receipt of approval to increase operational throughput from 540 tonnes per day (“tpd”) to 800 tpd.

Highlights

  • Senior debt financing package for US$72.5 million provided by BNP Paribas (“BNP”)
    • US$52.5 million 6-year Term Loan and US$20.0 million 3-year Revolving Credit Facility
    • Interest rate at LIBOR plus 2.875% to 3.875% based on credit ratios
    • Debt repayment starts March 31, 2020 when the Company is producing at full capacity
  • Equity investment of US$10.0 million provided by Appian Natural Resources Fund (“Appian”)
    • Investment is at $0.27 per Common Share
    • Consideration in the form of Special Shares convertible into Common Shares upon shareholder approval
    • Investment represents continued validation and support from the Company’s largest shareholder

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