Harte Gold Announces Additional Funding Commitment of US$2 million

Harte Gold announces that it has obtained an additional funding commitment of US$2 million from BNP Paribas (“BNPP”) pursuant to an amendment of its existing Revolving Credit Facility with BNPP which allows Harte Gold to continue operating while efforts to secure a transaction in its Strategic Review Process continue.

The Strategic Review Process has not yet resulted in any binding offers being received by the Company. While discussions continue with respect to a potential transaction, there can be no assurance that such discussions will result in a transaction, what the value of any transaction might be, what the terms or timing of such a transaction might be or that the Company will be able to continue as a going concern.

The Company continues to expect that the Strategic Review Process will not result in a transaction which would provide any value for holders of Harte Gold’s equity securities (including securities convertible into or exercisable for equity securities). As a result of the foregoing, holders of Harte Gold’s equity securities (including securities convertible into or exercisable for equity securities) are cautioned that trading in such securities is highly speculative, and that the trading prices for such securities may bear little or no relationship to the actual realization of value, if any, by holders thereof at the ultimate outcome of the Strategic Review Process. Also, there can be no assurance that the Company’s common shares will continue to trade on the TSX or on any other trading platform.

The Company expects to receive the US$2 million funding from BNPP on November 19, 2021. Based on the Company’s current cash flow forecast, the Company will still require additional financing prior to the end of 2021 in order to continue operations and conclude the Strategic Review Process. However, there can be no assurance that the Company will obtain the required financing or what the terms of such financing might be.

The Company will provide updates when further disclosure is required or otherwise appropriate.

This Media Release