Source: Heritage Mining Ltd.
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market

Heritage Mining (CSE:HML FRA:Y66) is a well-capitalized Canadian mineral exploration company advancing its flagship Drayton-Black Lakehigh-grade gold-silver-base metal project in northwestern Ontario.

The project benefits from historic data, excellent site access, and logistical support from the local community.

Drayton-Black Lake has well-defined, near-term drill targets with more than 100 years of exploration data compiled. In March 2023, the company received an exploration permit for the project from the Ontario Ministry of Mines, who granted the permit ahead of schedule.

The program, slated for spring / summer 2023, will focus on drilling three priority targets on the property with economic gold-silver grades at surface.

President and CEO Peter Schloo views the early approval as a testament to the company’s established relationships with the Ministry of Mines and nearby First Nation communities, including Lac Seul First Nation, Ojibway Nation of Saugeen, and the Metis Nation of Ontario.

Recently, the company reported results from channel sampling that returned high grades.

Ready to unlock the true value of this project, the company is eager to open this opportunity to investors with a non-brokered private placement for total gross proceeds of up to $1,500,000.

Under the offering, the company is issuing up to 13,000,000 flow-through units of the company at a price of $0.10 per FT unit and 2,222,222 units at a price of $0.09 per unit.

Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each FT unit consists of one common share, each of which qualifies as a “flow-through share”, and one warrant.

Each warrant entitles the holder to acquire one common share at an exercise price of $0.15 per warrant share until 4:30 pm PST on that date that is 36 months from the issuance closing date.

Source: Heritage Mining Ltd.

The company intends to close the offering on Aug. 4, 2023.

Net proceeds will be used to fund the company’s planned exploration and drilling programs at Drayton-Black Lake, in addition to general working capital.

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

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


The Information contained here is a paid advertisement and is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Prior to making any investment decision, it is recommended that readers consult directly with the public company and seek advice from a qualified investment advisor. The corporate information included in this was provided by Heritage Mining Ltd. in order to help investors learn more about their company. The information provided is purely and solely the responsibility of Heritage Mining Ltd. who has reviewed and approved all material for accuracy. Stockhouse does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. Investing in securities is speculative and carries risk. Persons who wish to buy or sell securities should only do so at their own risk and in consultation with their registered securities advisers. Stockhouse does not own stock in Heritage Mining Ltd.

This article has been edited since its original publication date to reflect a date change to close the offering.

More From The Market Herald

@ the Bell: Q4 off to a rough start for the TSX

The final quarter of 2023 began on a dim note for Canada’s main stock index, which continued its decline on Monday.

A small-cap fintech company is gearing up for global domination

Fintech is one of the fastest-growing sectors and Fintech Select (TSXV:FTEC) is poised to exert a substantial influence in this domain.  

An undervalued Canadian mining company hiding in plain sight

The best returns among Canadian mining companies are earned by building conviction when market sentiment is low, such as the present moment.
The Market Herald Video

Pan Global Resources is on the edge of a big discovery

We touch base with Pan Global Resources, which is focused on discovering copper, to find out what is planned for the remainder of the…