Harte Announces $788,250 Final Closing Under Private Placement
December 31 2010 - 3:30PM
Marketwired Canada
HARTE GOLD CORP. ("Harte") (TSX VENTURE:HRT)(FRANKFURT:H4O) has raised gross
proceeds of $788,250 and issued 1,051,000 flow through common shares pursuant to
the final closing of a non-brokered private placement of up to four million flow
through common shares priced at $0.75 announced December 23, 2010.
Finder's fees payable in connection with the final closing consist of a cash
payment equal to 6% of cash raised and that number of common share purchase
warrants equal to 6% of the flow through common shares issued pursuant to
certain orders in the private placement, for a total of $23,265 and 31,020
warrants. Each Finder's warrant is exercisable into one common share on payment
of $0.75 for a period of 12 months from closing.
Harte issued a total of 3,296,333 flow-through common shares at $0.75 and raised
gross proceeds of $2,521,000 under the two closings which amount will allow
Harte to aggressively pursue the exploration and development of the Sugar Zone
Property.
About Harte Gold Corp.
Harte Gold Corp. is a Canadian gold exploration company with interests in the
Sugar Zone and Stoughton-Abitibi properties located in Ontario, Canada. The
Sugar Zone Property is located 60 kilometres east of the Hemlo Gold Camp and
holds an NI 43-101 compliant Indicated Resource of 1,117,000 tonnes, grading
8.41 g/t Au for 302,000 ounces of contained gold and an Inferred Resource of
417,000 tonnes, grading 7.13 g/t Au for 95,000 ounces of contained gold. Harte
is the operator of the Sugar Zone Property and currently owns a 49% interest
with the option to acquire the remaining 51% for consideration equal to $90,000
every six months until payment of $2.5 million by May 28, 2012 or $3 million by
May 28, 2013. Harte also holds the Stoughton-Abitibi property located on and
adjacent to the Destor-Porcupine Fault Zone in close proximity to the 2.5
million ounce Holloway-Holt Gold Mine in the Timmins Porcupine gold camp.
Common Shares Outstanding: 139,568,318
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