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News Release - |
HARVEST GOLD CORPORATION ANNOUNCES FINANCING
September 26, 2006
Vancouver, British
Columbia, Canada. September 26, 2006. Harvest Gold Corporation (HVG -
TSX-V) (the “Company”) is pleased to announce that it has closed the third
and final tranche of its non-brokered private placement previously announced on
June 16, 2006. The closing of the first tranche of the private placement was
announced on July 17, 2006. The closing of the second tranche was announced on
August 18, 2006. The Company has raised a further total of $158,810 through the
issuance of 142,000 flow-through shares and 888,333 non-flow through units.
Flow-through shares were sold at a price of 18 cents per common share.
Non-flow-through units were sold at 15 cents per unit. Each unit consists of
one non-flow through common share and one-half of one share purchase warrant,
with each whole warrant entitling the holder thereof to purchase one non-flow
through common share of the Company at a price of 20 cents at any time prior to
September 25, 2007. All securities are subject to a four month hold period and
will expire January 26, 2007.
In the first
tranche the Company raised a total of $742,625 through the issuance of 1,047,777
flow-through shares and 3,693,500 non-flow through units. In the second tranche
the Company raised a total of $312,480 through the issuance of 186,000
flow-through shares and 1,860,000 non-flow through units.
The total gross
proceeds raised via this placement are $1,213,915.
A commission was
paid in respect of the final tranche financing in an aggregate amount of $8,500.
A commission was paid in respect of the second tranche financing in the
aggregate amount of $40,080 as well as 4,000 non-flow through units, 8,000
flow-through shares, and 2,000 warrants entitling the agent to acquire up to
2,000 common shares at a price of 20 cents per common share until July 12, 2007.
The proceeds of
the financing will be used for exploration activities on the Company’s Rice Lake
Gold Belt properties in Manitoba, to develop its Nevada property portfolio and
for general working capital.
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
Richard Mark
Chairman
The TSX Venture Exchange does not
accept responsibility for the
adequacy or accuracy of this News
Release
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