Harfang closes $1.12-million private placement

Executive Summary

• Harfang Exploration Inc. has completed a non-brokered private placement of flow-through common shares, raising gross proceeds of $1,125,000.
• The financing consists of two tranches: Quebec flow-through shares issued at 10.5 cents and Ontario flow-through shares issued at 9.5 cents.
• Proceeds are designated for advancing exploration projects in Quebec and Ontario, with finders' fees paid in common shares.

Key Details

• Total Gross Proceeds: $1,125,000
• Total Shares Issued: 11,441,104 flow-through common shares
• Quebec Tranche:
  • Quantity: 3,809,524 shares
  • Price: 10.5 cents per share
• Ontario Tranche:
  • Quantity: 7,631,580 shares
  • Price: 9.5 cents per share
• Use of Proceeds: To advance the company's portfolio of exploration projects in Quebec and Ontario.
• Finder's Fees: 1,058,823 common shares paid to third parties dealing at arm's length.
• Hold Period: All securities are subject to a hold period of four months and one day.
• Regulatory Status: The offering is subject to approval by the TSX Venture Exchange.