Heatherdale Resources Ltd. (TSXV: HTR) announces a private placement of 6 million units in its capital at a price of $1.00 per unit for gross proceeds of $6.0 million to a number of investors, including Company insiders.
Each unit will consist of one common share and one warrant exerciseable to purchase an additional common share at a price of $1.20 for 18 months from the closing of the financing, which is expected on or about November 24, 2010. Issuance of shares is subject to a four month hold period. Finder's fees are payable on a portion of the financing. The financing is subject to regulatory approval.
Proceeds from the placement will be used to continue to advance exploration of the Niblack property in Alaska and for general corporate and working capital purposes.
Source: Heatherdale Resources Ltd.