TORONTO, ONTARIO, Jan. 20, 2010 (Marketwire) -- HARTE GOLD CORP. ("Harte") (TSX VENTURE:HRT)(FRANKFURT:H4O) announces the final closing of 1,000,000 common shares for gross proceeds of $50,000 pursuant to a non-brokered private placement of up to 5,000,000 common shares and 7,142,857 flow-through common shares announced December 23, 2009 for a total raise of $701,334.
Harte issued 5,000,000 common shares at a price of $0.05 each for gross proceeds of $250,000 and 6,447,624 flow-through common shares at a price of $0.07 each for gross proceeds of $451,334 under the closing announced December 23, 2009 and today's final closing.
Proceeds from the private placement will be used to fund the next phase of diamond drilling expected to commence this winter on the Sugar Zone Project and general corporate purposes. The Sugar Zone Property is located in the Hemlo area of northern Ontario and is held under a joint venture with Corona Gold Corporation.
In connection with the final closing Harte paid a Finder's Fee in the amount of $1,200 cash and 10,000 compensation warrants in connection with certain of the placements. The compensation warrants are exercisable into one common share on payment of $0.10 until July 19, 2011. Securities issued under the final closing of the private placement are subject to a hold period ending May 21, 2010.
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 inferred resource of 904,400 tonnes grading 9.75 g/t Au for 283,500 ounces of contained gold. Corona Gold Corporation is a 51% partner on the Sugar Zone and is the project operator. The Stoughton-Abitibi property is 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.
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