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Crescat Capital Participating as Lead Investor as Harvest Gold Announces Closing of its Non-Brokered Private Placement
Vancouver, British Columbia / June 3, 2024 – TheNewswire – Harvest Gold Corporation (TSXV: HVG) (“Harvest Gold” or the “Company”) announces that, further to its
About this update from Harvest Gold Corporation
[{"type":"text","content":"Vancouver, British Columbia / June 3, 2024 – TheNewswire – Harvest Gold Corporation (TSXV: HVG) (“Harvest Gold” or the “Company”) announces that, further to its news release of April 29, 2024 and subject to the final approval of the TSX Venture Exchange (the “Exchange”), it has closed its non-brokered private placement (the “Private Placement”) issuing 4,285,715 units of the Company (the “Units”) at $0.035 per Unit raising total gross proceeds of $150,000. Crescat Capital, as lead investor in the Private Placement, purchased 1,700,000 Units, representing approximately 40% of this Private Placement to bring their non-diluted ownership of Harvest Gold common shares to approximately 14.19%. Dr. Quinton Hennigh, Technical and Geologic Director of Crescat Capital states: “We are delighted to see Harvest Gold secure a district scale land package in an underexplored greenstone belt on strike with one of the more notable new gold camps to emerge in the Superior Province of Quebec. They have stealthily assembled a project with excellent potential, and we are quite anxious to see what some boots on the ground prospecting delivers.” Rick Mark, President and CEO of Harvest Cold states: “The fact that Crescat has committed to our early stage, three large property packages in the Urban Barry region of Quebec is excellent news for our shareholders. Working with Quinton and the Crescat team on key exploration decisions and on future financing strategies makes us that much stronger going forward. My thanks to them for their confidence in us and this emerging Quebec gold story.” Each Unit issued in the Private Placement consists of one common share in the capital of the Company (a “Share”) and one transferable common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional Share at a price of $0.07 for a period of two years from the closing (the “Closing Date”) of the Private Placement. The Company intends to use the proceeds for exploration costs and general working capital. Richard Mark, CEO and a director of the Company, and Len Brownlie, a director of the Company, each purchased 400,000 Units in the Private Placement. As such, their participation constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in S...