|June 20, 2017|
Heatherdale Announces Management Changes and Private Placement of up to $135,000
|June 20, 2017 Vancouver, BC - Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSXV: HTR) announces that David Copeland has been appointed Heatherdale's Executive Chairman and CEO, effective June 1, 2017 and Scott Cousens has resigned as an Officer and Director of the Company. Mr. Cousens has been the Company's Chairman and, more recently, has also been serving as its Interim President and CEO. |
David J. Copeland is a Professional Engineer and mining executive with over 40 years' experience in a variety of capacities in mine exploration, discovery and development globally, providing expertise and leadership on the Mt. Milligan Copper-Gold Project in British Columbia ("BC"), the South Kemess mine in central BC, the Hollister development project in Nevada, USA, the Burnstone mine in South Africa and the Xietongmen project in Tibet, China. As Director of Project Development at Hunter Dickinson Inc. ("HDI"), he directs and co-ordinates advanced technical programs of companies for which HDI provides services. Mr. Copeland has been a director of Heatherdale since 2009.
Director Rene Carrier said, "On behalf of the Board of Directors, I am very pleased to welcome David Copeland as Executive Chairman and CEO of the Company. Mr. Copeland has been actively involved with Heatherdale and the Niblack Project and is well-positioned to take on his new roles with the Company.
I would also like to thank Scott Cousens for his contributions to Heatherdale. He has served as Director and Chairman of the Board of the Company since its inception in 2009 and also as interim President and CEO for the past year."
The Company also announces that it plans to complete a private placement of up to approximately 2,700,000 units ("Units") at a price of C$0.05 per Unit (the "Issue Price") for proceeds of up to C$135,000 (the "Offering"). Each Unit shall consist of one common share in the capital of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant shall entitle the holder to purchase one additional Share (a "Warrant Share") at a price of C$0.07 per Warrant Share for a period of two years from the date of closing of the Offering.
The Units, Shares and Warrant Shares will be subject to applicable resale restrictions, including a four month hold period from the date of closing of the Offering under applicable Canadian securities laws. Completion of the Offering is subject to regulatory approval, including approval of the TSX Venture Exchange.
Proceeds will be used to advance the Company's Niblack Project and for general corporate working capital purposes.
Heatherdale Resources Ltd. is focused on advancing the Niblack Project, a copper-gold-zinc-silver mine development opportunity in southeastern Alaska. For more information on Heatherdale, visit the Company's website at www.heatherdaleresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114. Investors are also referred to the Company's continuous disclosure filings that are available at www.sedar.com.
On behalf of the Board of Directors
Rene G. Carrier
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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