TORONTO, ONTARIO--(CCNMatthews - June 19, 2006) - Robert Platt, President & CEO of HARTE GOLD CORP. (TSX VENTURE:HRT) is pleased to announce the completion of two private placements and the exercise of certain stock options pursuant to the company's share option purchase plan.
The first private placement is for a maximum of 2,500,000 non-flow-through units (the "Units") at a price of $0.25 per Unit. Each Unit consists of one common share of the Company and one (1) share purchase warrant. Each share purchase warrant grants the right to the holder thereof to acquire one (1) common share in the Company at a price of $0.30 per share for a period of 24 months from the closing date. The proceeds from the offering will be used for general working capital purposes.
The second private placement is for a maximum of 600,000 "flow-through" units (the "Flow-Through Units") at a price of $0.30 per Flow-Through Unit. Each unit consists of one (1) common share of the Company and one-half (1/2) share purchase warrant. One (1) full share purchase warrant grants the right to the holder thereof to acquire one common share in the Company at a price of $0.40 per share on or prior to October 31, 2006 or at a price of $0.80 per share on or prior to October 31, 2007. The proceeds from the offering will be used for expenditures that qualify as Canadian Exploration Expenses.
A finders fee in the amount of 10% of the Units purchased is payable in respect of each of the two (2) private placements. All securities issued are subject to a hold period of four months and one day from the date of closing.
An officer of the company has purchased 450,000 common shares of the Company at a price of $0.30 pursuant to the Company's share option purchase plan.
HARTE GOLD CORP. is an Ontario based Canadian gold company with two gold projects located in northern Ontario, Canada: the sugar zone gold deposit located 60 km east of the Hemlo gold area and the Stoughton Porcupine gold project located next to the Holloway gold mine located 50 km north-east of Kirkland Lake gold area.
On June 8, 2006, the Company announced that it has entered into a purchase and sale agreement to acquire the additional 51% interest in the Sugar Zone Property which would increase its interest in the Sugar Zone to 100%.
The Company has recently completed a 2,760 metre drilling program on its Stoughton Porcupine gold project. With the completion of this drilling program, which began during the winter of 2006, the Company has completed its expenditure obligations of $1,000,000. As a result, the Company has increased its ownership interest in this property from 25% to 50%.
The statements contained in this press release may involve a number of risks and uncertainties. The actual results may differ materially from the Company's initial expectations and projections.
FOR FURTHER INFORMATION PLEASE CONTACT:
HARTE GOLD CORP.
Robert J. Platt
President & CEO
(416) 368-6827 (FAX)