Toronto, ON: HARTE GOLD CORP. (“Harte Gold” or the “Company”) (TSX: HRT / OTC: HRTFF / Frankfurt: H4O) is pleased to announce, further to its announcement on March 11, 2020, that it has completed its brokered private placement (the “Offering”) of flow-through common shares of the Company (“Flow-Through Shares”). The Flow-Through Shares were issued in two tranches, the first tranche consisting of 120,937,495 Flow-Through Shares and the final tranche consisting of 47,812,505, at an issue price of $0.16 per Flow-Through Share, respectively. The total proceeds raised under the Offering were $27 million.
Appian Natural Resources Fund (“Appian”), through its wholly-owned subsidiary, ANR Investments B.V. acquired 41,218,343 common shares in connection with the Offering to maintain its approximately 24.4% pro rata interest in the Company. The gross proceeds from the Offering will be used to fund continued mine development, including vertical development at the Sugar Zone mine and advancing to the Middle Zone.