Harvest Gold Closes $1.3 Million Dollar Financing
HARVEST GOLD CORP. 301 – 260 W. Esplanade North Vancouver, B.C. V7M 3G7
Tel: (604) 986-2020 Fax: (604)-986-2021 Toll Free: 1-866-816-0118 www.harvestgoldcorp.com
HARVEST GOLD CLOSES $1.3 MILLION DOLLAR FINANCING
NOT FOR DISSEMINATION IN THE USA
Vancouver, B.C., April 22, 2010. Harvest Gold Corporation (TSX.V: HVG) (the “Company”) is pleased to announce that it is has completed a non-brokered private placement of 13,000,000 units at a price of $0.10 per unit for gross proceeds $1,300,000. This is 1,000,000 units more than announced on April 5th, 2010.
Harvest Gold, USA President Greg Hill states: “I am very pleased the financing is now complete and oversubscribed. We are now in negotiations with drilling companies in Nevada and I expect we will announce a drill contract and our first drill program at our Rosebud Mine project shortly”.
Each unit is comprised of one common share in the capital of the Company and one share purchase warrant (a “Warrant”). Each Warrant is exercisable to purchase one additional common share over a two-year period at a price of $0.20 per share, provided that, if at any time, which is more than four months and one day following the Closing Date, the volume weighted average trading price of the common shares of the Company, as traded on the Exchange, exceeds $0.30 for 20 consecutive trading days, the Company shall have the right to accelerate the expiry date of the Warrants to a date which is 30 days following the date of the notice.
Finders’ fees may be payable in connection with the private placement in accordance with the policies of the TSX Venture Exchange. Proceeds of the private placement will be used to develop the Rosebud Mine property in Nevada, USA, expand the Company’s property portfolio, and for general working capital.
All securities issued in connection with the private placement will be subject to a minimum four month hold period. The financing remains subject to the approval of the TSX Venture Exchange.
Harvest Gold Corporation is a mineral exploration company working in Nevada, USA and Manitoba, Canada. In Nevada, the Company is exploring the 100% optioned Rosebud Mine property, and a generative gold property at Garcia Flats in the South Carlin Trend. In Manitoba, Harvest is exploring one group of claims in the Rice Lake Gold Belt of south eastern Manitoba and at Assean Lake, Manitoba.
On behalf of the Board of Directors,
Rick Mark CEO & Chair Harvest Gold Corporation
For further information contact:
Keith Patey, Director of Communications
Telephone: (604) 986-2020 Toll Free: 1-866-816-0118
For more information about Harvest Gold Corporation, please review the Company’s website www.harvestgoldcorp.com or speak with a Company representative at 1-866-816-0118 or 604-986-2020.
Neither 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 news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or any state securities laws and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.