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News Release - |
Harvest Gold Corporation, New
Listing, Financing Completed
December 12, 2005
Vancouver, British Columbia, Canada. December 12, 2005. Harvest Gold Corporation
(HVG - TSX-V) (the “Corporation”) is pleased to announce that effective at the
opening on December 13, 2005 the Corporation’s common shares will commence
trading on the TSX Venture Exchange under the symbol “HVG”. The Corporation’s
transfer agent is Pacific Corporate Trust Company and its CUSIP number is
417532108.
The Corporation was originally a wholly-owned subsidiary of Rare Earth Metals
Corp. (REM: TSXV) and was spun off as a separate company holding the gold
properties of REM, all as set out in a detailed Information Circular, describing
the Plan of Arrangement, dated September 13, 2005 for REM.
The Corporation has also completed a brokered private placement in conjunction
with the listing. The Corporation raised $658,500 by the issuance of 6,585,000
units (“Units”) of the Corporation at a price of $0.10 per Unit (the
“Offering”), each Unit consisting of one common share (“Share”) and one share
purchase warrant (“Warrant”). Each Warrant is exercisable for the purchase of
one common share (“Warrant Share”) for a period of two years expiring December
1, 2007 at a price of $0.20 per share subject to a written expiry notice from
the Corporation triggered by the Corporation’s common shares trading on the TSX
Venture Exchange at or above a weighted average trading price of $0.35 for 20
consecutive days and, upon such written notice by the Corporation, the warrants
will expire 30 days from the date of such notice. Bolder Capital Partners
Limited acted as Agent in connection with the Offering. They received an 8% cash
commission and 412,500 Broker warrants exercisable at a price of $0.20 per share
expiring December 1, 2007. All securities issued are subject to a four month
hold period expiring April 2, 2006.
Proceeds of the financing will be used to fund the recommended work program on
the Corporation’s Longstreet Gold-Silver Mine Project in Nye County, Nevada and
for general working capital purposes.
The Corporation is authorized to issue an unlimited number of common shares with
no par value. A total of 593,331 common shares were placed in escrow in
accordance with the policies of the Exchange. The total number of issued and
outstanding common shares following completion of the Offering is 16,420,565.
The current directors and officers of the Company are John Roozendaal, President
& Director, Richard Mark, CEO, Chairman & Director, Evan Sleeman, CFO &
Director, George Gale, VP Exploration & Director, Jay Butterworth, Director and
Michael Hitch, Director.
Harvest Gold Corporation is a mineral exploration company focused on the
acquisition and development of gold and gold-silver exploration opportunities in
Canada and the United States. Presently the Corporation has option agreements on
the Longstreet Mine Gold/Silver Property in Nye County, Nevada, USA and two Gold
Properties in the Rice Lake Gold Belt near Bissett, Manitoba. It also has a 40%
interest in the Assean Lake Gold Property, operated by JV partner Canadian
Goldhunter (CGH-T).
For more information call (604)986-2020 or toll free 1-866-816-0118, or visit
www.harvestgoldcorp.com.
On Behalf of the Board of Directors,
Harvest Gold Corporation
John Roozendaal
President & Director
The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this News Release |
