Harfang Exploration Inc. announced that it expects to receive CAD 5 million in funding from Monarch Mining Corporation and other investors

Harfang Exploration Inc. announced a private placement of subscription receipt at a price of CAD 0.55 per subscription receipt for a minimum gross proceeds of CAD 1,000,000 and maximum gross proceeds of CAD 5,000,000 on January 6, 2022. The transaction will include participation from strategic investors for an amount of CAD 1,600,000 and Monarch Mining Corporation for CAD 1,500,000. The transaction is expected to close on January 31, 2022.

Each subscription receive will be convertible into common shares of the company. The transaction is subject to receipt of all required regulatory approvals including, without limitation, the conditional approval of the TSX Venture Exchange.