|December 01, 2010|
Heatherdale Closes $7.9 Million Financing
December 1, 2010, Vancouver, BC - Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSXV: HTR) announces that it has completed the previously announced non-brokered private placement of 7,889,500 units of its capital at a price of $1.00 per unit for gross cash proceeds of $7,889,500. 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.
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.
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.
President and CEO Patrick Smith commented, "We are pleased to complete this financing, which will assist us to advance our drilling program and assessment of the high grade mineralization within the Lookout zone at Niblack."
Heatherdale Resources Ltd. is a Vancouver-based exploration and development company associated with Hunter Dickinson Inc. (HDI). The Company is focused on advancing the high-grade mine development opportunity at the Niblack Project. Heatherdale has the right to retain a 51% interest in the Niblack Project and an option to acquire up to a 70% interest from Niblack Mineral Development Inc.
For further details on Heatherdale, please visit www.heatherdaleresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.
On behalf of the Board of Directors
You can view the Next News Releases item: Thu Dec 16, 2010, Heatherdale Completes Requirements To Secure 51% Interest In Niblack Project
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