Harfang Exploration Completes Significant Financing
Harfang Exploration Inc. (“Harfang” or the “Company”) (TSX.V: HAR) has recently concluded a pivotal non-brokered private placement that demonstrates its commitment to advancing mineral exploration. The Company successfully issued 7,090,000 flow-through common shares at a price of $0.085 each, culminating in total gross proceeds of $602,650. These funds are earmarked for the development of Harfang’s exploration projects focused on gold and lithium in key regions of Canada.
Insider Participation Highlights Trust
Among those showing confidence in Harfang's future are insiders who purchased 200,000 Flow-Through Shares as part of the Offering. This involvement is notable as it constitutes a "related party transaction" according to TSX Venture Exchange policies. By relying on exemptions from formal valuation and minority shareholder approval requirements, Harfang ensures compliance with necessary regulations, demonstrating fiscal responsibility and transparency.
Details on Security Hold Period
All shares issued in this Offering are subject to a mandatory hold period of four months and one day, reflecting the Company’s adherence to regulatory norms. This precaution helps to stabilize the stock price by preventing immediate resales, reinforcing investor trust. Approval from the TSX Venture Exchange is also required to finalize the transaction, ensuring that all aspects of the Offering meet industry standards.
The Role of Finder's Fees
In addition, finder’s fees amounting to $33,625 were allocated to third parties who engaged with Harfang at arm’s length. This practice supports the growth of relationships with knowledgeable intermediaries who can help attract more investors in the future.
Exploring Harfang’s Vision
Harfang Exploration Inc. is recognized for its robust financial health and technical expertise in mineral exploration. The Company's mission centers on discovering valuable ore deposits in regions like Québec and Ontario. This objective is facilitated by a dedicated team of industry professionals with an impressive track record. Harfang is firmly committed to sustainable practices, engaging with stakeholders throughout its operations to ensure environmental responsibility.
Contact Information for Inquiries
For those interested in learning more about Harfang Exploration, inquiries can be directed to their Interim President and CEO, Vincent Dubé-Bourgeois. He can be reached at info@harfangexploration.com.
Frequently Asked Questions
What is Harfang Exploration's primary focus?
Harfang Exploration focuses on discovering ore deposits, particularly in gold and lithium, within Canada.
How much funding did Harfang raise through the recent financing?
The Company raised a total of $602,650 through the issuance of flow-through common shares.
What does flow-through financing mean for investors?
Flow-through financing allows investors to receive tax benefits associated with the exploration expenditures undertaken by the company.
What was the insider participation in the Offering?
Insiders of the Company purchased 200,000 Flow-Through Shares, highlighting their confidence in the Company's prospects.
Who can I contact for more information about Harfang?
Inquiries can be addressed to Vincent Dubé-Bourgeois at info@harfangexploration.com.
