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.”
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