TORONTO, ONTARIO, Jun. 24, 2010 (Marketwire) -- HARTE GOLD CORP. ("Harte") (TSX VENTURE:HRT)(FRANKFURT:H4O) announces that it has granted a total of 7,800,000 options to acquire common shares of Harte to Directors, Officers, Consultants and its Investor Relations Consultant. The Stock Options are exercisable at $0.15 per common share and expire June 22, 2015.
Harte also announced that it has renewed its contract with David Ellis to provide investor and broker liaison and act to increase awareness of Harte within the investment community. Mr. Ellis will be retained for the period July 1, 2010 through June 30, 2011. Compensation will consist of $65,000 payable as to $50,000 on signing and $1,250 per month and, options to purchase 350,000 common shares of Harte exercisable at $0.15 per common share until June 22, 2015 subject to applicable vesting provisions and approval by the TSX Venture Exchange.
Harte also announced that pursuant to initial and final closings of its non brokered private placement announced May 26, 2010 and June 11, 2010 respectively, Harte raised total gross proceeds of $5,274,200 and issued a total of 42,747,200 Units and 8,000,000 Flow Through common shares. Units were priced at $0.10 and consist of one common share and one-half common share purchase warrant. Each full warrant is exercisable at $0.15 for a period of eighteen (18) months from closing. Flow Through common shares were priced at $0.125 each. All securities issued pursuant to the private placement are subject to a four month hold period.
Finder's fees payable in connection with the private placement consisted of a cash payment equal to 8% of cash raised and that number of common share purchase warrants equal to 8% of the Units and Flow through common shares issued for a total of $212,896 and 2,084,400 warrants. Finder's fees were paid to Blackwell Investor Relations Corp., CIBC Wood Gundy Inc., D & D Securities Inc., Integral Wealth Securities Limited, Jennings Capital Inc., Jones Gable & Company Limited, Raymond James Ltd., Sherbrooke Capital (SSC) Inc. and Union Securities Ltd. Finder's warrants are exercisable into common shares on payment of $0.10 per common share (1,959,600) or $0.125 (124,800) all for a period of eighteen (18) months from closing.
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 in White River, Ontario, and holds an NI 43-101 compliant inferred resource of 904,400 tonnes grading 9.75 g/t Au for 284,000 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%.
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.
Common Shares outstanding: 128,224,169
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.