Harfang Exploration Inc Announces Completion of Qualifying Transaction and a $2,677,000 Financing
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HARFANG EXPLORATION INC ANNOUNCES COMPLETION OF QUALIFYING
TRANSACTION AND A $2,677,000 FINANCING
Montréal, June 23, 2017 – Harfang Exploration Inc. (formally RedQuest Capital Corp.) is
pleased to announce the completion of the pr eviously announced qualif ying transaction and
merger involving Harfang Explorati on Inc., RedQuest Capital Corp. (“ RedQuest”) and 9361-
5029 Québec Inc. (the “ Transaction”) which constituted the qual ifying transaction of
RedQuest under the policies of the TSX Venture Exchange.
Harfang Exploration Inc. (“Harfang”) has received conditional approval from the TSX Venture
Exchange (the " TSXV"). Trading of its common shares is expected to commence on the
TSXV on or about June 30, 2017 under the symbol “HAR”.
Harfang has also closed its $2,677,000 concurrent financing. Under the financing, Harfang
has issued (a) 7,642,000 units at a price of $0. 25 per unit. Each unit is comprised of one (1)
common share and one half (1/2) warrant. Each whole warrant is exercisable into one
additional common share fo r 24 months from the closing date of the private placement at an
exercise price of $0.40 per common share; and (b) 1,916,250 “flow-through” common shares
at a price of $0.40 per share.
In connection with the private placement, Ha rfang has paid finder’s fee for an aggregate
amount of $2,900 to arm’s length finders.
“The completion of the Transaction and financ ing is an important milestone for Harfang"
stated François Goulet, President and CEO of Harfang. “I am enthusiastic and look forward to
carrying out the exploration program on our Lake Ménarik Property ", he added.
Following completion of the Transaction and of the financin g, Harfang has a total of
28,048,135 common shares issued. Shareholders of RedQuest ho ld as a group 2,272,552
common shares (including the 325,198 common shares issued at a price of $0.25 per share
for settlement of debt to Directors of RedQues t). Shareholders of Harfang hold 16,217,333
common shares and investors in the concurrent private placement hold 9,558,250 common
shares.
The board of directors and mana gement of the Corporation is now comprised of the following
individuals: François Goulet, President and Director, André Gaumond, Chairman and
Director, Jean-Pierre Janson, Director, Frank Mariage, Director, Robi n Villeneuve, Director,
Sylvie Prud’homme, Director, Marc Pothier, Corporate Secretary and Yvon Robert, Chief
Financial Officer.
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Harfang has also today granted stock opti ons to purchase an aggregate 550,000 shares,
pursuant to the terms of the Co mpany’s stock option plan to di rectors, officers, employees
and consultants of the Company. These options are exercisable at $0.25 per Share for a term
of ten years from the date of issue.
Additional information about Harfang and the Transaction is available in the filing
statement dated June 14, 2017 and filed on SEDAR (www.sedar.com).
For further information, please contact:
Harfang Exploration Inc.
François Goulet, President and CEO
Tel. : 514 940-0670 x339
Email: [email protected]
www.harfangexploration.com
The TSX Venture Exchange Inc. has in no wa y passed upon the merits of the proposed
merger and has neither approved nor disapproved the contents of this press release. Neither
the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Ex change) accepts responsibility for the adequacy or accuracy
of this release.
Notice regarding forward-looking statements
Certain statements in this release are forwar d-looking statements, which include completion
of the proposed merger and re lated financing, deadlines, r egulatory approvals and other
matters. Forward-looking statements consist of statements that are not purely historical,
including any statements regarding beliefs, plans , expectations or intentions regarding the
future. Such information can generally be identif ied by the use of forw arding looking wording
such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the
negative thereof or similar variations. The reader is cautioned that assumptions used in the
preparation of any forward-looking informat ion may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from those predicted, as a result of
numerous known and unknown risks, uncertainti es, and other factors, many of which are
beyond the control of Harfang. Fact ors that could cause the actual results to differ materially
from those in forward-looking statements incl ude, failure to obtain regulatory approval, the
continued availability of capital and financing, and general economic, market or business
conditions. Forward-looking statements contained in this press release are expressly qualified
by this cautionary statement.
The reader is cautioned not to place undue reliance on any fo rward-looking information.
There can be no assurance that the proposed Me rger or financing wil l be completed or, if
completed, will be successful.
The forward-looking statements c ontained in this press release are made as of the date of
this press release. Except as required by la w, Harfang disclaims any intention and assumes
no obligation to update or revise any forward-look ing statements, whether as a result of new
information, future events or otherwise. A dditionally, Harfang undertakes no obligation to
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comment on the expectations of, or statements made by, third parties in respect of the
matters discussed above.
This press release does not consti tute an offer to sell or the solic itation of an offer to buy any
securities in any jurisdiction.
The securities described herein may not be offer ed or sold in the Un ited States absent
registration or an exemption from registration.