Financing

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A mineral exploration company working in Nevada, USA and Manitoba, Canada.

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Financing

posted on Nov 17, 2010 08:41AM

I received an e-mail from Progressive IR, private placement alert, on Nov. 09, regarding a PP for Harvest Gold.

This from the e-mail message:

"This financing will primarily be used to fund a second phase of drilling at Rosebud. This program will aim to uncover new zones of mineralization as well as upgrade and expand areas of known mineralization that were indentified in the first phase of drilling. This financing provides tremendous upside potential as the property is drill ready, and with the information gathered from phase one, management feels highly confident that phase two has a high probability of success. Furthermore, as the strike price has been set near Harvest’s 52 week trading low, downside potential remains limited.

With a proven track record of building shareholder value, Harvest Gold could be the next success for the management team at the North Shore Mining Group. We encourage you to review both VMS Ventures (VMS:TSX.V), and Pancontinental Uranium Crop. (PUC:TSX.V) to see what this management team has done in the recent past. As gold and silver continue their surge this fall, Harvest Gold is very well situated to capitalize on this bull market."

Details of the PP are in a PDF attachment, stating:

Units at a price of $0.10 per Unit. Each Unit consists of one (1) common share ("Share") and one half (½) warrant ("Warrant"), each full warrant entitling the holder thereof to acquire one (1) additional Share at a price of $0.15 for a 12 month period from the date of issuance of the Units.

Non-brokered private placement. The securities will be subject to resale restrictions under applicable securities laws, including a four month restriction under Canadian securities laws.

The Corporation expects to pay a finder’s fee on all or a portion of the private placement totalling 8% cash and 8% finder warrants with each finder warrant entitling the holder thereof to acquire one (1) share at a price of $0.15 for a 12 month period from the date of issuance of the Units.

Closing:

Anticipated to be on or about November 30, 2010.

Nothing at all on the company website. Anyone here have any further knowledge, or comments on this?