Jul. 6, 2011 (Marketwire Canada) --
TORONTO, ONTARIO -- HARTE GOLD CORP. ("Harte") (TSX:HRT) (FRANKFURT:H4O) has raised gross proceeds of $900,000 and issued 2,250,000 flow through common shares pursuant to the initial closing of a non-brokered private placement of up to 3,125,000 flow through common shares priced at $0.40 for gross proceeds of up to $1.25 million. Final closing is scheduled for July 15, 2011. Proceeds from the private placement will be focused on Harte's Sugar Zone Property in White River, Ontario.
Finder's fees payable in connection with the private placement consist of a cash payment equal to 5% of cash raised and that number of common share purchase warrants equal to 5% of the flow through common shares issued pursuant to certain orders in the private placement, for a total of $28,450 and 71,125 warrants. Each Finder's warrant is exercisable into one common share on payment of $0.40 for a period of 12 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 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: 144,770,063
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Harte Gold Corp.
President and CEO
Harte Gold Corp.
Investor Relations Consultant