News
News Releases
| December 04, 2009 Hathor Announces a Success Fee paid in Connection with the Closing of the Plan of Arrangement with NCR | |
| Hathor Exploration Limited (HAT - TSX.V) ("the "Company") announces that further to its news release dated November, 23, 2009, the Company effected its Plan of Arrangement (the "Transaction") with Northern Continental Resources Inc. ("NCR"). The effective date of the Transaction was November 23, 2009 (the "Closing Date"). In connection with the Transaction, the Company entered into a Financial Advisory Agreement (the "Agreement"). As part of the Agreement, if the Transaction closed a "Success Fee" was to be paid to the Financial Advisor. The Financial Advisor is to receive a cash commission of $250,000 and the Company is also issuing share purchase warrants to the Financial Advisor (the "Financial Advisor Warrants") entitling the Financial Advisor to purchase an additional 250,000 common shares (the "Financial Advisor Warrant Shares") at a price of $1.74 per common share, the closing price of the Company's shares on the Closing Date of the Transaction. The Financial Advisor Warrants expire 24 months from the Closing Date. The Success Fee is subject to the acceptance of the TSX Venture Exchange. In accordance with securities legislation currently in effect, the Financial Advisory Warrants and Financial Advisor Warrant Shares are subject to a "hold period" of four months plus one day from the date of closing, expiring March 24, 2010. Hathor Exploration Limited Stephen G. Stanley, Director | |
You can view the Next News Releases item: Tue Dec 15, 2009, Hathor Plans Aggressive Winter Drill Program at Midwest NorthEast Property You can view the Previous News Releases item: Tue Dec 1, 2009, Forum And Hathor Prepare For $1.65 Million Drill Program On The Henday Project, Athabasca Basin You can return to the main News Releases page, or press the Back button on your browser. |