Vancouver, British Columbia / January 11, 2022 ‑ Harvest Gold Corporation (TSX.V: HVG) (“Harvest Gold” or the “Company”) announces that, subject to the approval of the TSX Venture Exchange (the “Exchange”), it intends to complete a non-brokered private placement (the “Private Placement”) of up to 2,200,000 units (the “Units”) at $0.15 per Unit to raise total gross proceeds of up to $330,000.
Of the 2,200,000 Units being offered in the Private Placement, Plethora Private Equity has committed to purchasing 2,000,000 Units.
Harvest Gold President and CEO Rick Mark states: “We are very pleased to have the respected Dutch Find, Plethora Private Equity, join the Harvest investor group. We have been in discussions with them since late November when they expressed a strong interest and asked if they could possibly invest in the New Year. We were confident they would participate and so this concludes our pre-drilling funding plan.”
Crescat Portfolio Management LLC (“Crescat”) has committed to the purchase of 200,000 Units pursuant to the participation right granted to Crescat by the Company which allows Crescat to maintain its current ownership position in the Company, as further detailed in the Company’s news release dated December 30, 2021.
Each Unit will consist of one common share (“Share”) and one Warrant exercisable at a price of $0.25 per Share for a period of two (2) years, provided that if the closing price of the Company’s Shares on the Exchange (or such other exchange on which the Company’s Shares may become traded) is $0.50 or greater per Share during any fifteen (15) non-consecutive trading day period after June 15, 2022, the Warrants will expire at 4:00 p.m. (Pacific time) on the 30th day after the date on which the Company provides notice of such accelerated expiry to the holders of the Warrants.
All securities issued in the Private Placement will be subject to the Exchange hold period, plus a hold period of four months and one day following the closing date of the Private Placement.
Finder’s fees may be payable in accordance with the policies of the Exchange.
The Company expects the Private Placement to close early next week and intends to use the gross proceeds of the Private Placement for further exploration at Goathorn and Jacobite and for general working capital.
About Harvest Gold Corporation
Harvest Gold is focused on the Interior Plateau of British Columbia exploring for near surface Gold deposits and Copper Gold Porphyry deposits. Harvest Gold’s board of directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.
Harvest Gold acknowledges that the Emerson and Goathorn Projects are situated in the traditional territory of the Wet’suet’en Nation while the Jacobite Project is situated in the traditional territory of the Lake Babine Nation. Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark
President and CEO
Harvest Gold Corporation
For more information please contact: Rick Mark or Jan Urata
@ 604.737.2303 or info@harvestgoldcorp.com
