Vancouver, B.C., April 22, 2010. Harvest Gold Corporation (TSX.V: HVG) (the “Company”) is pleased to announce that it is has completed a non-brokered private placement of 13,000,000 units at a price of $0.10 per unit for gross proceeds $1,300,000. This is 1,000,000 units more than announced on April 5th, 2010.
Harvest Gold, USA President Greg Hill states: “I am very pleased the financing is now complete and oversubscribed. We are now in negotiations with drilling companies in Nevada and I expect we will announce a drill contract and our first drill program at our Rosebud Mine project shortly”.
Each unit is comprised of one common share in the capital of the Company and one share purchase warrant (a “Warrant”). Each Warrant is exercisable to purchase one additional common share over a two-year period at a price of $0.20 per share, provided that, if at any time, which is more than four months and one day following the Closing Date, the volume weighted average trading price of the common shares of the Company, as traded on the Exchange, exceeds $0.30 for 20 consecutive trading days, the Company shall have the right to accelerate the expiry date of the Warrants to a date which is 30 days following the date of the notice.
Finders’ fees may be payable in connection with the private placement in accordance with the policies of the TSX Venture Exchange. Proceeds of the private placement will be used to develop the Rosebud Mine property in Nevada, USA, expand the Company’s property portfolio, and for general working capital.
All securities issued in connection with the private placement will be subject to a minimum four month hold period. The financing remains subject to the approval of the TSX Venture Exchange. Harvest Gold Corporation is a mineral exploration company working in Nevada, USA and Manitoba, Canada. In Nevada, the Company is exploring the 100% optioned Rosebud Mine property, and a generative gold property at Garcia Flats in the South Carlin Trend. In Manitoba, Harvest is exploring one group of claims in the Rice Lake Gold Belt of south eastern Manitoba and at Assean Lake, Manitoba.
On behalf of the Board of Directors,
Rick Mark
CEO & Chair
Harvest Gold Corporation
For More Information please contact :
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Keith Patey
Director of Communications
Telephone: (604) 986-2020
Toll Free: 1-866-816-0118 |
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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.
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