TORONTO, ONTARIO -- (Marketwired) -- 01/28/15 -- HARTE GOLD CORP. ("Harte Gold") (TSX: HRT)(FRANKFURT: H4O) has raised gross proceeds of $300,000, including $29,900 pursuant to the closing today (previous closing January 23, 2015) of a non-brokered private placement of up to 5,000,000 Units priced at $0.06 for gross proceeds of $300,000.
Units consist of one common share and one common share purchase warrant exercisable at $0.15 for a period of eighteen (18) months from closing. Finder's fees payable in connection with this closing 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 Units issued pursuant to the private placement, for a total of $1,455 and 24,250 warrants. Finder's warrants are exercisable at $0.08 for eighteen (18) months from closing.
Common share purchase warrants issued under the private placement (Unit and Finder's warrants) are subject to an acceleration clause. In the event the closing price of Harte Gold common shares is equal to or greater than $0.20 for a period of 10 consecutive trading days, Harte Gold may accelerate the expiry date of the warrants by giving notice to the holders thereof through the issuance of a press release. In such case, the warrants will expire on the 30th day after the date on which such notice is given.
Proceeds from the private placement will fund exploration on Harte Gold's Ontario properties as well as permitting and development work related to the advanced exploration project at its 100% owned Sugar Zone property and, general corporate purposes.
About Harte Gold Corp.
Harte Gold Corp. is focused on the exploration and development of its 100% owned Sugar Zone property and is currently permitting an advanced exploration program for the Sugar Zone Deposit. The Sugar Zone property is located 60 kilometers east of the Hemlo Gold Camp and as of February 2011, 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.
Harte also holds the Stoughton-Abitibi property located on the Destor-Porcupine Fault Zone which is directly adjacent to and on strike of St Andrew Goldfield's Holloway Gold Mine and its high grade "Deep Smoke Discovery" in the Timmins, Ontario Porcupine gold camp.
Common Shares Outstanding: 257,240,532
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Harte Gold Corp.
Stephen G. Roman
President and CEO
Harte Gold Corp.
Investor Relations Consultant