Appian acquires additional shares in Harte

Appian Natural Resources Fund, a metals and mining private equity fund that is managed by Appian Capital Advisory, has acquired about 19.5 million shares in Toronto mining company Harte Gold Corp at $0.62 per share for a price of over $12 million. The transaction follows a previous $20 million bought deal private placement of common shares by Harte. Appian now owns about 97 million common shares of Harte or a 19.6 percent stake.

PRESS RELEASE

JERSEY, CHANNEL ISLANDS–(Marketwired – July 5, 2017) – Appian Natural Resources Fund, L.P. and Appian Natural Resources (UST) Fund, L.P. (together, “Appian”) today acquired an aggregate of 19,485,574 common shares of Harte Gold Corp. (“Harte”) at a price of $0.62 per common share for an aggregate subscription price of $12,081,056 pursuant to a previously announced $20 million bought deal private placement of common shares by Harte.

Immediately prior to the completion of the private placement, Appian owned and had control and direction over 77,321,871 common shares of Harte representing approximately 17% of the outstanding common shares of Harte at such time. Following completion of the private placement, Appian now owns an aggregate of 96,807,445 common shares of Harte (representing an increase of approximately 2.6% to 19.6% of the outstanding common shares of Harte) and will be entitled to nominate a second director to the board of directors of Harte.

Appian acquired the additional common shares for investment purposes. Appian has a long-term view of the investment. Depending on the development of Harte’s business, financial condition, the market for Harte’s securities, general economic conditions and other factors, and subject to certain agreed standstill and other restrictions on sale, Appian may acquire additional securities of Harte, or sell all or some of the securities it holds, in the open market, by private agreement or otherwise.

About Appian Natural Resources Fund
Appian is a metals and mining private equity fund formed under the laws of Jersey, Channel Islands providing long-term capital to both private and public mining companies. The advisor to Appian, Appian Capital Advisory LLP (the “Advisor”), is headquartered in London, with an international network in key mining cities. The Advisor has a senior management team that is a combination of professionals from major mining companies, private equity firms and investment banks, bringing together over 150 years of combined mining experience. In aggregate they have managed in excess of 60 mines through to production and concluded over $200 billion worth of mining sector transactions. With a successful track record of value creation across the full mining life cycle, the Advisor’s team’s strong operating and corporate skills are available to support management teams to optimise assets and ramp up operations that deliver value and generate attractive returns for all investors.