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Harte Gold to raise C$6M for Canadian exploration

Echelon Wealth Partners Inc. has agreed to purchase 20.0 million flow-through common shares of Harte Gold Corp. on a bought-deal basis at 30 Canadian cents apiece for gross proceeds of C$6.0 million.

Harte said Sept. 11 that the proceeds will be used for the company's Canadian exploration assets.

Harte said it has granted Echelon the option to purchase up to an additional 15% of the flow-through shares sold under the offering at the issue price. This option may be exercised in whole or in part at any time up to 48 hours prior to the closing date of the offering.

The offering is expected to close by Sept. 27.

In August, Harte said that its bought-deal financing to raise C$6 million was terminated by Echelon, the sole underwriter and book runner.

The company said in July that the bought-deal offering was intended for exploration, including at the Sugar Zone gold mine in Ontario.