Monday, July 9, 2012

Heatherdale Resources Ltd. (TSX-V: HTR) Heatherdale Announces $4.4 Million Private Placement Financing

July 9, 2012, Vancouver, BC – Heatherdale Resources Ltd. (“Heatherdale" or the “Company”) (TSX Venture: HTR) announces that it has arranged a $4.4 million private placement financing with Rathdowney Resources Ltd. (“Rathdowney”), whereby Heatherdale will issue 22,000,000 common shares to Rathdowney at a price of $0.20 per share. The issuance is subject to final approval by the TSX Venture Exchange.

Rathdowney is a public company that has certain directors in common with Heatherdale. On completion of the financing, Rathdowney will own approximately 18.4% of Heatherdale’s shares. Under the terms of the transaction, Rathdowney will also have the right to nominate two individuals for election to Heatherdale’s board of directors for so long as it retains at least a 10% interest in Heatherdale.

The proceeds will be used to advance drilling and engineering studies at the Niblack Project and for general corporate and working capital purposes...  

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