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December 12, 2011, Vancouver, BC - Heatherdale Resources Ltd. (“Heatherdale” or the “Company”) (TSXV: HTR) announces a proposed private placement of approximately 11.1 million units in its capital at a price of $0.45 per unit for gross proceeds of approximately $5 million to a number of accredited and other investors, including participation by Company insiders. Each unit will consist of one common share and one warrant, with each warrant exercisable to purchase an additional common share at a price of $0.60 for 15 months from the closing of the financing, which is expected on or about December 21, 2011. The securities issued will be subject to a four month hold period under Canadian securities laws. Finder’s fees may be payable on a portion of the financing. The financing is subject to regulatory approval.
Proceeds from the financing will be used to continue to advance engineering studies and a preliminary economic assessment of the Niblack property in Alaska and for general corporate and working capital purposes...
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