Crescat Capital Llc Participating as Lead Investor as Harvest GOLD Announces Closing of Its Non-Brokered Private Placement
CRESCAT CAPITAL LLC PARTICIPATING AS LEAD INVESTOR AS HARVEST GOLD
ANNOUNCES CLOSING OF ITS NON-BROKERED PRIVATE PLACEMENT
Vancouver, British Columbia / June 3 , 2024 - Harvest Gold Corporation (TSXV: HVG)
(“Harvest Gold” or the “Company”) announces that, further to its news release of April 29, 2024
and subject to the final approval of the TSX Venture Exchange (the “Exchange”), it has closed its
non-brokered private placement (the “ Private Placement ”) issuing 4,285,715 units of the
Company (the “Units”) at $0.035 per Unit raising total gross proceeds of $150,000.
Crescat Capital, as lead investor in the Private Placement, purchased 1,700,000 Units, representing
approximately 40% of this Private Placement to bring their non-diluted ownership of Harvest Gold
common shares to approximately 14.19%.
Dr. Quinton Hennigh, Technical and Geologic Director of Crescat Capital states: “We are
delighted to see Harvest Gold secure a district scale land package in an underexplored greenstone
belt on strike with one of the more notable new gold camps to emerge in the Superior Province of
Quebec. They have stealthily assembled a project with excellent potential, and we are quite anxious
to see what some boots on the ground prospecting delivers.”
Rick Mark, President and CEO of Harvest Cold states: “The fact that Crescat has committed to
our early stage, three large property package s in the Urban Barry region of Quebec is excellent
news for our shareholders. Working with Quinton and the Crescat team on key exploration
decisions and on future financing strategies makes us that much stronger going forward. My thanks
to them for their confidence in us and this emerging Quebec gold story.”
Each Unit issued in the Private Placement consists of one common share in the capital of the
Company (a “Share”) and one transferable common share purchase warrant (a “Warrant”). Each
Warrant entitles the holder to purchase one additional Share at a price of $0.07 for a period of two
years from the closing (the “Closing Date”) of the Private Placement. The Company intends to
use the proceeds for exploration costs and general working capital.
Richard Mark, CEO and a director of the Company, and Len Brownlie, a director of the Company,
each purchased 400,000 Units in the Private Placement. As such, their participation constitutes a
“related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority
Security Holders in Special Transactions (“MI 61-101”). Such participation is exempt from the
formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair
market value of the Units acquired by the insiders, nor the consideration for the Units paid by such
insiders, exceed 25% of the Company’s market capitalization.
The Company paid finder’s fees of $ 980 cash and 28,000 finder’s warrants (the “ Finder’s
Warrants”) to Leede Jones Gable Inc. in connection with the closing of the Private Placement.
The Finder’s Warrants are non-transferable and exercisable at $0.0 7 per Share until the Expiry
Date.
HARVEST GOLD CORPORATION
Suite 400 – 1681 Chestnut Street
Vancouver, BC V6CJ 4M6
T: (604) 737-2303
F: (604) 737-1140
W: www.harvestgoldcorp.com
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The Company also announces that the Warrant terms were amended from the original
announcement to remove the acceleration provision attached to the Warrants.
All securities issued pursuant to the Private Placement are subject to the Exchange Hold Period
and a four -month and one day hold period pursuant to securities laws in Canada expiring on
October 1, 2024.
About Crescat Capital LLC
Crescat is a value-driven asset management firm headquartered in Denver, Colorado with a global
macro thematic overlay . The current goal of its activist metals’ strategy is to help exploration
companies create new economic metal deposits in viable mining jurisdictions around the world
ahead of a likely M&A cycle. The company’s investment process involves a mix of asset classes
and strategies to assist with each client’s unique needs and objectives and includes Global Macro,
Long/Short, and Precious Metals funds.
Crescat is advised by its technical consultant, Dr. Quinton Hennigh on investments in gold, silver,
and base-metal resource companies. Dr. Hennigh became an economic geologist after obtaining
his PhD in Geology/Geochemistry from the Colorado School of Mines. He has more than 30 years
of exploration experience with major gold mining firms, including Homestake, Newcrest , and
Newmont.
About Harvest Gold Corporation
Harvest Gold is focused on exploring for near surface gold deposits and copper-gold porphyry
deposits in politically stable mining jurisdictions. Harvest Gold’s board of directors, management
team and technical advisors have collective geological and financing experience exceeding 400
years.
Harvest Gold has three active gold projects focused in the Urban Barry area, totalling 329 claims
covering 17,539.25 ha , located approximately 45-70 km east of Osisko -Gold Fields Windfall
Deposit.
Harvest Gold acknowledges that the Mosseau Gold Project straddles the Eeyou Istchee-James Bay
and Abitibi territories. Harvest Gold is committed to developing positive and mutually beneficial
relationships based on respect and transparency with local Indigenous communities.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark
President and CEO
Harvest Gold Corporation
For more information please contact:
Rick Mark or Jan Urata
@ 604.737.2303 or [email protected]
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.
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Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements".
All statements in this news release, other than statements of historical facts, that address events or
developments that Harvest Gold expects to occur, are forwa rd looking statements. Forward
looking statements are statements that are not historical facts and are generally, but not always,
identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur.
Although the Company believes the expectations expressed in such forward -looking statements
are based on reasonable assumptions, such statements are not guarantees of future performance
and actual results may differ materially from those in the forward-looking statements. Factors that
could cause the actual results to differ materially from those in forward looking statements include
market prices, exploitation and exploration successes, 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. Forward looking
statements are based on the beliefs, estimates and opinions of the Company’s management on the
date the statements are made. Except as required by securities laws, the Company undertakes no
obligation to update these forward -looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.
The securities referred to in this news release have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable securities laws of any state of
the United States, and may not be offered or sold within the United States or to, or for the account or benefit
of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United
States unless registered under the U.S. Securities Act an d any other applicable securities laws of the United
States or an exemption from such registration requirements is available.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities
within any jurisdiction, including the United States. Any public offering of securities in the United States must
be made by means of a prospectus containing detailed information about the company and management, as
well as financial statements.