MONTREAL, Sept. 17, 2019 (GLOBE NEWSWIRE) -- Harfang Exploration Inc. (“Harfang”) (TSX-V: HAR) announces today the closing of a non-brokered private placement concluded with institutional funds (the “Placement”).
The Placement consists in the issuance of 769 225 units (the “Units”) at a price of $0.26 per unit for proceeds of $199,998.50, each Unit being comprised of one (1) common share of Harfang (a “Share”) and one half (1/2) common share purchase warrant, each warrant entitling its holder to subscribe for one (1) Share at a price of $0.40 per Share during a 24-month period.
The Fonds de solidarité des travailleurs du Québec (F.T.Q.) (“Fonds de solidarité FTQ”) and SIDEX, société en commandite (“SIDEX”) participated in the Placement of Units through FIELD-ACTION 2019, an initiative designed to encourage junior mining companies to perform their fieldwork in Québec while at the same time supporting their working capital.
All securities issued in connection with this Placement are subject to a hold period of four months and one day. The Placement is subject to the approval of the TSX Venture Exchange.
The proceeds of this Placement will be used for the exploration expenditures on the Serpent project and working capital.
About Harfang
Harfang is a mining exploration company whose primary mission is to discover new gold districts in the province of Québec. Harfang’s development model is based on the generation of new mining projects and aims on the establishment of partnerships with major exploration and mining companies to advance its exploration projects. For further information, please consult Harfang’s website at Harfang harfangexploration.com.
About SIDEX
SIDEX is an initiative of the Québec government and the Fonds de solidarité FTQ whose mission is to invest in companies engaged in mineral exploration in Québec in order to diversify the province’s mineral base, promote innovation and new entrepreneurs.
About Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital investment fund that channels the savings of Quebecers into investments. As at May 31, 2019, the organization had $15.6 billion in net assets, and through its current portfolio of investments has helped create and protect 215,104 jobs. The Fonds is a partner in 3,126 companies and 694,357 shareholder-savers. For more information, visit www.fondsftq.com.
Forward-Looking Statements
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Harfang’s periodic reports including the filings made by Harfang from time to time with securities regulatory authorities.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. The securities described herein may not be offered or sold in the United States absent registration or an exemption from registration.
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.
For more information, please contact:
Harfang Exploration Inc.
François Goulet, President and Chief Executive Officer
Tel: 514 940-0670 #339
Email : fgoulet@harfangexploration.com