Harte Gold announces financing to bridge Silver Lake Resources sale

Harte Gold (TSE:HRT) said on Monday that it has obtained protection from its creditors under the CCAA for an initial period expiring December 16, 2021.

Harte Gold holds a 100% interest in the Sugar Zone mine located in White River, Canada. The Sugar Zone Mine entered commercial production in 2019.

An investor has also agreed to loan the company up to $10.8 million. The funding should lead to a sale of the company.

“Harte Gold has entered into a subscription agreement with 1000025833 Ontario Inc. , a wholly-owned indirect subsidiary of Silver Lake Resources Limited (ASX: SLR), pursuant to which the Investor, if it is the successful bidder at the conclusion of the SISP and is approved by the Court, would become the sole shareholder of Company in a transaction which provides for the continuation of its business and operations as a going concern.”

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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