Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSXV: HTR)
announces that it has completed the previously announced non-brokered private
placement of 7,889,500 units of its capital at a price of $1.00 per unit for gross
cash proceeds of $7,889,500. Each unit consists of one common share and one
warrant entitling the holder to purchase an additional common share at a
price of $1.20 for a period of 18 months from the closing of the private
placement. The common shares and warrants comprising the units are subject to
a four month hold period.
Proceeds from the placement will be used
to continue to advance exploration of the Niblack
property in Alaska and for general corporate and working capital purposes.
The securities have not been, and will
not be registered under the United States Securities Act of 1933, as amended
("the United States Securities Act") or any state securities laws
and may not be offered or sold within the United States or to U.S. Persons unless
registered under the United States Securities Act and applicable state
securities laws or an exemption for such registration requirements is
available.
President and CEO Patrick Smith
commented, "We are pleased to complete this financing, which will assist
us to advance our drilling program and assessment of the high grade
mineralization within the Lookout zone at Niblack."
Heatherdale Resources Ltd. is a Vancouver-based
exploration and development company associated with Hunter Dickinson Inc.
(HDI). The Company is focused on advancing the high-grade mine development
opportunity at the Niblack Project. Heatherdale has the right to retain a 51% interest in the
Niblack Project and an option to acquire up to a
70% interest from Niblack Mineral Development Inc.
On behalf of the Board of Directors
Scott Cousens
Chairman and Director
Neither the 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.
This release includes certain statements
that may be deemed "forward-looking statements". All statements in
this release, other than statements of historical facts, that address
exploration drilling, exploitation activities and events or developments that
the company expects are forward-looking statements. Although the Company
believes the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially from
those in the forward-looking statements. Factors that could cause actual
results to differ materially from those in forward-looking statements include
market prices, exploitation and exploration successes, continuity of
mineralization, uncertainties related to the ability to obtain necessary
permits, licenses and title and delays due to third party opposition, changes
in government policies regarding mining and natural resource exploration and
exploitation, and continued availability of capital and financing, and
general economic, market or business conditions. Investors are cautioned that
any such statements are not guarantees of future performance and actual
results or developments may differ materially from those projected in the
forward-looking statements. For more information on the Company, investors
should review the Company's continuous disclosure filings that are available
at www.sedar.com.
For further information
For further details on Heatherdale, please visit www.heatherdaleresources.com
or contact Investor Services at (604) 684-6365 or within North America at
1-800-667-2114.
|