Harvest Gold Corporation announced a non-brokered private placement of up to 2,200,000 units at CAD 0.15 per unit for gross proceeds of CAD 330,000 on January 11, 2022. The transaction included participation from Hephaistos B.V. for 2,000,000 units. Each unit will consist of one common share and one warrant exercisable at a price of CAD 0.25 per share for a period of two years, provided that if the closing price of the company's shares on the exchange is CAD 0.50 or greater per share during any fifteen non-consecutive trading day period after June 15, 2022, the warrants will expire on the 30th day after the date on which the company provides notice of such accelerated expiry to the holders of the warrants.

All securities issued will be subject to the exchange hold period, plus a hold period of four months and one day following the closing date of the private placement. The company expects the transaction to close early next week.