VANCOUVER, Dec. 13, 2012 /CNW/ - Heatherdale Resources Ltd.
("Heatherdale" or the "Company") (TSXV: HTR) announces that it has
entered into an agreement with Sino-Canada Natural Resources Fund I
("Sino-Canada Fund"), pursuant to which Sino-Canada Fund will subscribe
for a convertible debenture (the "Debenture") for an aggregate
principal amount of $3 million, which will earn interest at a rate of
8% per annum. The principal amount of the debenture will be
convertible into common shares of the Company ("Shares") at a price of
$0.20 per Share, and interest thereon will be convertible at the higher
of $0.20 per Share and the market price of the Shares on the date of
such conversion. At the end of the two year term of the Debenture, any
remaining principal and interest amounts will be redeemed at the option
of the Company in cash, by the issuance of Shares, or a combination of
both cash and Shares. The Company may, with Sino-Canada Fund's
consent, prepay all or part of the amounts outstanding under the
Sino-Canada Fund will have the right to nominate one individual for
appointment to the Company's technical advisory committee until it
meets certain Share ownership or voting conditions, at which time it
will instead have the right to nominate one individual for appointment
as a director of the Company.
President and CEO Patrick Smith said, "We welcome the experience of
Sino-Canada Fund to Heatherdale's technical advisory committee and look
forward to developing a positive working relationship to help advance
our projects to the next stage."
Sino-Canada Fund Managing Partner Thomas Lau said, "We believe
Heatherdale's projects and management team are world class and fit
within our strategic vision to support the growth of high potential
resources assets. We believe our capital will support Heatherdale's
future work with positive results and look forward to helping
Heatherdale reach new milestones."
Proceeds from the issuance of the Debenture will be used to advance the
exploration and development of the Company's projects in Alaska and for
general working capital. A finder's fee is payable in cash to an arm's
length party based on the principal amount of the Debenture. The
issuance of the Debenture is subject to final approval by the TSX
About Heatherdale Resources Ltd.
Heatherdale Resources Ltd. is a Vancouver-based exploration and
development company focused on advancing its 100% owned high-grade mine
development opportunity at the Niblack Project. The Company also holds
a 60% interest in the mid-stage Delta copper-lead-zinc-gold-silver
project. Both projects are located in Alaska. Heatherdale is
associated with the Hunter Dickinson group, which has a track record of
successful mineral exploration and development projects around the
About Sino-Canada Natural Resources Fund I
Sino-Canada Natural Resources Fund I is a Cayman Islands registered
private equity fund focused on investments in Canadian listed and
private companies that develop and operate natural resource projects
(mining, oil & gas, forestry) worldwide. Sino-Canada Fund is managed in
Hong Kong on behalf of private investors from China.
On behalf of the Board of Directors
President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address exploration drilling,
exploitation activities and events or developments that the company
expects are forward-looking statements. Although the Company believes
the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially
from those in the forward-looking statements. Factors that could cause
actual results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration
successes, continuity of mineralization, uncertainties related to the
ability to obtain necessary permits, licenses and title and delays due
to third party opposition, changes in government policies regarding
mining and natural resource exploration and exploitation, and continued
availability of capital and financing, and general economic, market or
business conditions. Investors are cautioned that any such statements
are not guarantees of future performance and actual results or
developments may differ materially from those projected in the
forward-looking statements. For more information on the Company,
investors should review the Company's continuous disclosure filings
that are available at www.sedar.com.
SOURCE: Heatherdale Resources Ltd.
For further information:
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.