Hertz Energy proposes financing for antimony, tungsten and silver exploration
The Canadian explorer outlined a private placement with project-specific flow-through proceeds; its release does not identify the currency for the headline amount.
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Hertz Energy announced a non-brokered private placement on October 9, proposing to raise up to $1,607,400. Its release uses a dollar sign but does not state whether the figure is Canadian or U.S. dollars. The proposed financing has three unit classes, including charity flow-through units tied to the company’s Lake George antimony-tungsten project in New Brunswick and Craig silver project in Yukon.
The company says proceeds from those flow-through units would fund qualifying exploration expenditures, while proceeds from its other units would go to working capital and corporate purposes. Closing is expected by October 30, possibly in tranches, and remains subject to regulatory and Canadian Securities Exchange approvals; the announcement is a financing proposal, not evidence that funds have been raised or exploration completed.
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Figures and classifications stated in the primary release.
- · Occurred
Hertz Energy announces proposed exploration financing
The company announced a non-brokered placement for up to $1,607,400; the release does not specify the currency. Proceeds are earmarked for antimony-tungsten and silver exploration, subject to completion and approvals.
- · Scheduled
Expected latest closing date for the placement
The company says closing is expected on or before this date and may occur in tranches; regulatory and Canadian Securities Exchange approvals are required.
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Values, scope and qualifiers follow the primary release; no conversion or forecast has been added.
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