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Investors looking to capitalize on the gold and copper commodity should take stock of what is happening in Ontario, Canada. The latest offering in the Deal Room has a unique play in just this order.

Heritage Mining Ltd. (“the Company”) is a private, well-capitalized company focused on acquiring Tier-1, advanced stage precious and base metal exploration projects.

The company has assets in a mature greenstone belt, the Goliath Gold Complex & Rainy River district on the outskirts of Sioux Lookout, Ontario along the Abrams-Minnitaki Lake Greenstone Belt (+10Moz Au).

Its projects boast well-defined, near-term drill targets and more than a century’s worth of exploration data, never compiled, until now.

  • Pre-money ~C$5.2M (after share issuance as part of option contracts)
  • Top Tier: Land Package, Management Team, Capital Structure (~18.2M shares o/s)
  • Cash Position (~C$0.8M)
  • Excellent access and infrastructure throughout the properties

The projects:

Heritage Mining’s Drayton-Black Lake Flagship Project boasts a 14,221Ha district scale land package with numerous high-grade gold drill intersections and historic bulk samples of 8 tonnes at 14 g/t Au and 4 tonnes at 18 g/t Au.

The project area has 4 priority gold zones: The Moretti, Split Lake, Shaft, and Forster Zones.

The Contact Bay Project has a regional scale package of 4,700 Ha with multiple high-grade gold and copper-nickel occurrences.

Proposed Work Program – 2022Black Lake – Drayton ProjectContact Bay Project
Data-Base ConsolidationCompleteIn progress
Airborne EM & MagIn progressIn progress
Geological Evaluations (Prospecting, Mapping, Geochemical, Till, Assaying)Planning Summer fieldwork and Fall DrillingPlanning Summer fieldwork
DrillingPlanning Fall Program 

Its mineralization styles contain orogenic lode gold, volcanogenic massive sulphide (VMS) and base metal mineralization.

The opportunity:

Heritage Mining will be the first company to assess the consolidated Drayton-Black Lake with a systematic approach to low-grade high tonnage gold mineralization.

Close proximity to infrastructure, with road access to both the projects, this operation is in an established, low geo-political risk mining jurisdiction.

  • Definitive Agreements signed Nov-2021 and Jan-2022
  • Adjoins Treasury Metals’ Goliath Gold Complex (M&I: 2.13Moz Au, Inf: 0.77Moz Au)
  • Significant exploration history, more than 176 holes drilled
  • Historic holes hit high grade Au and/or Cu mineralization

For experienced retail investors, a private company can equate to a ground floor opportunity and can often translate into a high-value investment upon public listing.

There is a lot going on with this company to get investors excited.

The deal:

In order to fast track their exploration program and give easy access to capital, Heritage Mining has been approved by the CSE and is currently live on their brokered IPO led by Red Cloud with Canaccord, PI Financial, and M Partners included in the syndicate.

Heritage Mining is seeking $2 million to $6 million (CDN) with an offering price at $0.25 per unit (one common share with a full warrant, exercisable at $0.40). There is also a flow-through units offering available to investors with an offering price of C$0.275 per unit (one common share & one full warrant, exercisable at $0.40).

Common shares that are purchased through the brokered IPO become free trading the day Heritage Mining goes public, there is no holding period.

The flow-through units are available to Canadian residents only and for those who are not familiar with the benefits of a flow-through offering, 100 per cent of the value of this type of investment can be used to reduce your taxable income. In addition to the income reduction benefit, investors may be eligible to receive a 15-30 per cent tax credit. This type of investment should not be overlooked by savvy investors.

From a pricing perspective, this deal has very similar pricing to their last private placement to allow new investors the opportunity to participate in our value creation initiatives. This is rare, as normally there is a significant price increase from the last private round. “We do things differently, we want the new public participates to get a piece of the action they deserve.” – CEO, Peter Schloo

In addition to working capital, Heritage Mining intends to use the proceeds from this Broker IPO to advance exploration at its Drayton-Black Lake Project where they have well-defined, near-term drill targets in northwestern Ontario’s Greenstone Belt.

To view or participate in the Heritage Mining Ltd. Deal Room offering, click here.

The Deal Room is your destination to participate in exclusive financings, featuring some of the best companies – and deals – currently available on the market.

FULL DISCLOSURE:  The Market Herald is not registered as a broker, dealer, exempt market dealer, or any other registrant in any securities regulatory jurisdiction and will not be performing any registerable activity as defined by the applicable regulatory bodies. This deal room is for informational purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. Offers to sell, or the solicitations of offers to buy, any security can only be made through official offering documents that contain important information about risks, fees, and expenses. The information contained in this deal room is selective and does not purport to contain all the information relating to Heritage Mining Ltd. in all cases, parties should conduct their own investigation and due diligence, not rely solely on the data provided herein and are encouraged to consult with a financial adviser, lawyer, accountant, and any other professional that can help to understand and assess the risks associated with any investment opportunity.

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