Heatherdale Resources Ltd.

Published : August 15th, 2015

Heatherdale announces loans

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Keywords :   Copper | Debt | Gold | Market | Silver | Silver Mine | Zinc |

Heatherdale announces loans

VANCOUVER , Aug. 14, 2015 /CNW/ - Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (HTR.V) announces a loan agreement in respect of loans (the "Loans") being made by certain directors and officers of the Company and other unrelated lenders (the "Lenders") in the aggregate of approximately $250,000 . 

The Loans will be secured, will bear interest at a rate of prime plus 2% per annum and will be repayable after one year or earlier under certain circumstances. In connection with the Loans, Heatherdale will issue to the Lenders loan bonuses of approximately 5 million warrants in the aggregate (the "Bonus Warrants") to purchase common shares in its capital at $0.05 /share. The Bonus Warrants will be non-transferrable and the common shares issuable under the Bonus Warrants will be subject to a four month plus one day holding period commencing from the date of issuance of the Bonus Warrants.  The Bonus Warrants will expire on the one year anniversary of the respective Loans. The Loans will be used for general working capital purposes.

Concurrently with closing of the Loans, the Company will grant a security interest in all of its assets to Hunter Dickinson Services Inc. ("HDSI") to secure payment of present and future trade payables owing by the Company under its existing agreement with HDSI for the provision of technical, geological, corporate communications, administrative and management services.  In exchange for such grant of security interest, HDSI will (i) agree to not to demand payment of a current trade payable of $2,115,138 prior to January 31, 2016 , and (ii) continue providing services to the Company, notwithstanding non-payment of such current trade payable.  HDSI is an existing service provider to the Company that is owned and controlled by certain of the Lenders, among other persons.

The Loans and issuance of Bonus Warrants are subject to acceptance by the TSX Venture Exchange.  

About Heatherdale & the Niblack Project

Heatherdale Resources Ltd. is a Vancouver -based exploration and development company focused on advancing its copper-gold-zinc-silver mine development opportunity at the Niblack Project.

On behalf of the Board of Directors
Mark Peters
Chief Financial Officer

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". Forward looking statements include statements with respect to the Loans, grants of security and issuance of securities contemplated by this release and the likelihood that such transactions will complete, and the Company's ability to repay the Loans or any of its debts or liabilities that are now or hereafter become due for payment.   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 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. The Company cannot guarantee that the Loans, grants of security and issuance of securities contemplated by this release will complete or that any required approval of the TSX Venture Exchange will be received.  There is no certainty that the Company will be able to repay the Loans or any other outstanding debt or liability of the Company in a timely manner or at all.  Assumptions used by the Company to develop forward-looking statements include the following: the Niblack project will obtain all required environmental and other permits and all land use and other licenses, studies and exploration of the Niblack project will continue to be positive, and no geological or technical problems will occur.  Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, potential environmental issues or liabilities associated with exploration, development and mining activities, 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.

SOURCE Heatherdale Resources Ltd.

Read the rest of the article at finance.yahoo.com

Heatherdale Resources Ltd.

DEVELOPMENT STAGE
CODE : HTR.V
ISIN : CA42245Q1090
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Heatherdale is a zinc and lead exploration company based in Canada.

Heatherdale develops zinc, lead, copper, gold and silver in USA.

Its main asset in development is NIBLACK COPPER CO. in USA and its main exploration property is DELTA in USA.

Heatherdale is listed in Canada. Its market capitalisation is CA$ 175.2 millions as of today (US$ 140.2 millions, € 116.4 millions).

Its stock quote reached its highest recent level on March 12, 2010 at CA$ 1.94, and its lowest recent point on February 05, 2016 at CA$ 0.01.

Heatherdale has 180 600 000 shares outstanding.

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Financings of Heatherdale Resources Ltd.
3/24/2014Alaska State Senate Committee approves provision related to ...
5/16/2011(TSX-V: HTR) Arranges Up To $25 Million Non-Brokered Financi...
11/16/2010Arranges $6 Million Non-Brokered Financing
Option Grants of Heatherdale Resources Ltd.
7/18/2011 Grants 120,000 options to a director of the company
Nominations of Heatherdale Resources Ltd.
5/10/2011(TSXV: HTR) AGM Results: Two New Members Join the Board, Oth...
Project news of Heatherdale Resources Ltd.
3/27/2014Senate passes bill authorizing mine financing
5/2/2013(Delta)(TSX-V: HTR) Returns Delta Project
5/2/2013(Delta)Returns Delta Project
10/1/2012SIGNS MEMORANDUM OF UNDERSTANDING ON PREFFERED INFRASTRUCTUR...
7/16/2012INITIATES 2012 DRILL PROGRAM & PROVIDES UPDATE ON ALASKA’S N...
12/1/2011EXPLORES NIBLACK PROJECT PARTNERSHIP OPPORTUNITIES IN SOUTHE...
11/29/2011ANNOUNCES 31% INCREASE TO TOTAL MINERAL RESOURCE TONNAGE AT ...
10/5/2011(TSX-V: HTR): Heatherdale and Niblack Agree to Terms for Fr...
8/31/2011Completes Requirements To Secure 60% Interest In Niblack Pro...
8/18/2011(Delta)(TSX-V: HTR) Initiates Drilling at Delta VMS Project, Alaska
3/16/2011(TSXV: HTR): “Larger Niblack mine estimates released” audio ...
3/14/2011(Niblack Copper Co.)announces 54% increase to mineral resources at Niblack
2/22/2011(Delta)AS NIBLACK ADVANCES, HEATHERDALE ADDS ANOTHER
1/25/2011(Niblack Copper Co.)' Drilling Intersects High Grade While Expanding Lookout Zon...
Corporate news of Heatherdale Resources Ltd.
6/10/2016Heatherdale Corporate Update
4/19/2016Heatherdale Announces Loan
4/1/2016Heatherdale Announces Resignation of President & CEO
12/18/2015Heatherdale Corporate Update
8/28/2015Heatherdale Corporate Update
8/15/2015Heatherdale announces loans
2/13/2015Heatherdale announces share issuances related to convertible...
1/16/2015Heatherdale Files 2014 Year End Materials
12/24/2014Heatherdale and Sino Canada amend convertible debenture
6/19/2014(TSX-V: HTR): Alaska Governor Signs Bill for AIDEA Financing...
6/18/2014Alaska Governor signs bill for Aidea financing of Heatherdal...
5/6/2014Alaska State Legislature unanimously supports mineral develo...
4/23/2014closes $1.1 million non-brokered financing
4/23/2014Heatherdale closes $1.1 million non-brokered financing
4/7/2014announces $1 million non-brokered financing
4/7/2014Heatherdale announces $1 million non-brokered financing
3/24/2014Alaska State Senate Committee approves provision related to ...
10/10/2013/R E P E A T -- Heatherdale Signs MOU with Alaska Industrial...
10/1/2012signs Memorandum of Understanding on preffered infrastructur...
9/14/2012Announces Increase in Exercise Price of Options
1/17/2012(TSX-V: HTR): Heatherdale-Niblack Plan Of Arrangement Appro...
10/26/2011(TSX-V: HTR) and Niblack Enter Into Definitive Arrangement A...
8/22/2011receives priority permitting approval from US Forest Service
7/28/2011(TSX-V: HTR) Drilling Continues to Intersect & Expand Minera...
6/15/2011CLOSES $9.3 MILLION FINANCING
5/9/2011COMPLETES ACQUISITION OF HUNTER DICKINSON ACQUISITIONS INC.
3/30/2011ANNOUNCES GRANT OF OPTIONS
12/1/2010CLOSES $7.9 MILLION FINANCING
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TSX-V (HTR.V)
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Develops Copper - Gold - Silver - Zinc
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