Transactions

Peterson McVicar Acts for Red Cloud in Heritage Mining Ltd. Initial Public Offering

On August 25, 2022 Heritage Mining Ltd. ("Heritage" or the "Corporation") announced it had completed an initial public offering ("IPO") of units ("Units") and flow-through units ("FT Units") of the Corporation at a price of $0.25 per Unit and $0.275 per FT Unit. Pursuant to the IPO, a total of 7,973,581 Units and 2,320,210 FT Units for gross proceeds of approximately $2,630,000 and the common shares in the capital of Heritage ("Common Shares") are now listed on the Canadian Securities Exchange ("CSE" or the "Exchange") under the symbol "HML".

The Units and FT Units were issued and sold pursuant to an agency agreement dated May 31, 2022 (the "Agency Agreement") between the Corporation, Red Cloud Securities Inc. ("Red Cloud" or the "Lead Agent"), Canaccord Genuity Corp., M Partners Inc. and PI Financial Corp. (collectively with the Lead Agent, the "Agents" and each individually, an "Agent"). Pursuant to the terms of the Agency Agreement, the Corporation paid the Agents an aggregate commission of $173,345. In addition, the Corporation granted to the Agent non-transferable options to acquire up to an aggregate of 677,137 Common Shares (the "Agent's Options"). 

The Corporation is a Canadian mineral exploration company advancing multiple high grade gold projects in Northern Ontario. We have well-defined, near-term drill targets over four zones, close proximity to infrastructure, combined with over 100 years of exploration data (176 historic DDH totalling ~20km) never compiled until 2022.

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