TORONTO, ONTARIO--(Marketwired - Aug. 23, 2013) -HARTE GOLD CORP. ("Harte Gold") (TSX:HRT)(FRANKFURT:H4O) Harte Gold has raised gross proceeds of $1,232,080 including $358,280 pursuant to the final closing today (initial closing July 17, 2013, second closing July 31, 2013) of a non-brokered private placement of up to 6,250,000 Units priced at $0.08 and 15,000,000 Flow-Through Units priced at $0.10 for gross proceeds of up to $2 million.
Harte Gold issued 2,791,000 Units at $0.08 per Unit. Each Unit consists of one common share and one common share purchase warrant. Each warrant is exercisable at $0.15 for a period of twenty-four (24) months from closing. Harte also issued 1,350,000 Flow-Through Units at $0.10 per Unit. Each Unit consists of one flow-through common share and one-half common share purchase warrant. Each full warrant is exercisable at $0.15 for a period of twenty-four (24) months from closing.
Finder's fees payable in connection with the private placement consist of a cash payment equal to 7% of cash raised and that number of common share purchase warrants equal to 7% of the number of Units and Flow-Through Units issued pursuant to certain orders in the private placement, for a total related to the final closing of $6,300 and 63,000 warrants. Each Finder's warrant is exercisable at $0.10 for a period of twenty-four (24) months from closing. Proceeds from the private placement will fund exploration, permitting and development work related to the Advanced Exploration project at Harte Gold's 100% owned Sugar Zone property and, general corporate purposes.
Stephen G. Roman, President and CEO stated "We appreciate the support shown by our investors in this challenging market environment. We have sufficient cash on hand to move forward with definition drilling and pre-development work related to the advanced exploration program at the Sugar Zone deposit".
Construction of the mine site access road is progressing well with completion targeted for the end of September. The road will connect the Sugar Zone Deposit to Highway 631 which in turn provides direct access to the Trans Canada highway. Construction of the road is a key milestone in the development of the Sugar Zone property as it significantly reduces travel time to and from the property and will facilitate regional exploration programs across the property. Please go to www.hartegold.com for recent pictures.
Harte Gold will begin a drilling program in September to tighten drill spacing near surface for mine planning purposes.
About Harte Gold Corp.
Harte Gold Corp. is focused on the development of its 100% owned Sugar Zone property where it is permitting an Advanced Exploration project to test the Sugar Zone Deposit. The Sugar Zone property is located 60 kilometres east of the Hemlo Gold Camp and contains an NI 43-101 compliant 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). Harte also holds the Stoughton-Abitibi property located on and adjacent to the Destor-Porcupine Fault Zone in the Timmins, Ontario Porcupine gold camp.
Common Shares Outstanding: 203,482,554
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