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Heatherdale Resources (TSXV:HTR) has announced a non-brokered private placement

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The company is looking to raise gross proceeds of up to $2.5 million from the placement of up to approximately 15.6 million shares priced at $0.16 per share.

Additional Information:

Company: Heatherdale Resources
Website: http://www.HeatherdaleResources.com
Stock Symbol: TSXV: HTR
Date Published: Aug 6, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Heatherdale Resources has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $2.5 million from the placement of up to approximately 15.6 million shares priced at $0.16 per share.

Company directors have passed a resolution authorizing a 5 old for 1 new share consolidation which will occur immediately prior to the closing of this financing.

The company reserves the right to increase the offering up to total gross proceeds of $5.0 million.

Following the consolidation, but prior to the financing, the company will have 14.9 million shares outstanding.

The shares are currently trading at $0.19

The net proceeds will be used to fund exploration activities on the company's Niblack project and for working capital purposes.

Heatherdale holds a 100% interest in the advanced exploration high-grade Niblack copper-gold-zinc-silver VMS Project, which consists of a 6,200 acre past producing gold rich massive sulphide deposit, located on tidewater on Prince of Wales Island in southeast Alaska.

Six volcanogenic massive sulphide (VMS) deposits are known to occur within the Niblack mineral claims.

The property has been the focus of extensive mineral exploration activity by Heatherdale, including nearly 200,000 feet of drilling, since 2009.

This work expanded both the Lookout and Trio deposits, outlining significant mineral resources that laid the foundation for engineering studies initiated in 2011.

Initial metallurgical tests indicate high quality clean copper and zinc concentrates with high precious metals content.

The project has a low initial capex requirement and is pre-authorized for a US$125 million low interest loan to develop the Niblack Project through the Alaska Industrial Development and Export Authority.

For more information, please visit the company’s website at www.HeatherdaleResources.com, contact Robert McLeod, CEO, at 604-617-0616 or by email at rm@bwcg.ca

I’m Cassandra Bolinski for Investmentpitch Media