Heatherdale Arranges Up To $25 Million Non-Brokered Financing
May 13, 2011
May 13, 2011, Vancouver, BC - Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSXV: HTR) announces that it is in the process of arranging the private placement of up to 30 million units in its capital at a price of $0.83 per unit for gross proceeds of up to $25 million to a number of accredited investors, including participation by Company insiders. Each unit will consist of one common share and one warrant exerciseable to purchase an additional common share at a price of $1.20 for 18 months from the closing of the financing, which is expected on or about May 31, 2011. The securities issued will be subject to a four month hold period. Finder's fees are payable on a portion of the financing. The financing is subject to regulatory approval.
Proceeds from the placement will be used to continue to advance exploration of the Niblack and Delta properties in Alaska and for general corporate and working capital purposes.
For further details on Heatherdale Resources Ltd., please 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.