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Heatherdale Resources Ltd. (“Heatherdale” or the “Company”) (TSXV: HTR) announces that it has closed the previously announced non-brokered private placement of 11,314,255 units of its capital at a price of $0.83 per unit for gross cash proceeds of $9,390,831. Each unit consists of one common share and one warrant entitling the holder to purchase an additional common share at a price of $1.20 for a period of 18 months from the closing of the private placement. The common shares and warrants comprising the units are subject to a four month hold period from the closing date, which hold period expires on October 15, 2011.
Proceeds from the placement will be used to continue to advance exploration of properties in Alaska and for general corporate and working capital purposes.
The securities have not been, and will not be registered under the United States Securities Act of 1933, as amended (“the United States Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the United States Securities Act and applicable state securities laws or an exemption for such registration requirements is available.
About Heatherdale
Heatherdale Resources Ltd. is a Vancouver-based exploration and development company associated with Hunter Dickinson Inc. (HDI). The Company holds a 51% interest in the Niblack Project, with an option to acquire up to a 70% interest from Niblack Mineral Development Inc. by investing an additional US$10 million and completing a bankable feasibility study. Niblack is a resource delineation stage project in southeast Alaska. The Company also holds a 60% interest, with the option to acquire 100%, in the mid-stage Delta volcanogenic massive sulphide (VMS) project, located in east-central Alaska about 19 miles (30 km) from the Alaska Highway.
About HDI
Hunter Dickinson Inc. (HDI) is a diversified, global mining company with a 25-year history of mineral development success. From its head office in Vancouver, Canada, HDI applies its unique strengths and capabilities to acquire, develop, operate and monetize mineral properties that provide consistently superior returns to shareholders.
Read the full news release here.
