Harvest Gold Closes $615,000 Private Placement with Crescat Capital as Lead Investor

Harvest Gold ( (TSE:HVG) ) just unveiled an announcement.

Harvest Gold Corporation has successfully closed a non-brokered private placement, raising $615,000 by issuing 24,600,000 units at $0.025 per unit, with Crescat Capital LLC as the lead investor. The funds will be used for property exploration expenses and general working capital, including a $100,000 payment to Vior Inc. This financing, completed in a challenging market, is seen as a positive signal for Harvest Gold’s Urban Barry Belt property, indicating potential for discovery and strengthening its market position.

Spark’s Take on TSE:HVG Stock

According to Spark, TipRanks’ AI Analyst, TSE:HVG is a Neutral.

Harvest Gold is currently facing significant financial challenges with no revenue and ongoing losses. Despite this, technical indicators suggest some short-term momentum, potentially driven by positive corporate developments like project expansion. However, the stock’s valuation remains unattractive with a negative P/E ratio and no dividend yield, which limits its investment appeal at this time.

To see Spark’s full report on TSE:HVG stock, click here.

More about Harvest Gold

Harvest Gold Corporation is focused on exploring for near-surface gold deposits and copper-gold porphyry deposits in politically stable mining jurisdictions. The company has three active gold projects in the Urban Barry area, covering 329 claims over 17,539.25 hectares, located east of the Osisko-Gold Fields Windfall Deposit. Harvest Gold is committed to building positive relationships with local Indigenous communities.

YTD Price Performance: 50.0%

Average Trading Volume: 168,355

Technical Sentiment Signal: Hold

Current Market Cap: C$2.86M

For a thorough assessment of HVG stock, go to TipRanks’ Stock Analysis page.