December 7, 2021

Filing Type:

Company Counsel: TGF

Trustee: FTI



Harte Gold Corp. (TSX:HRT), a Toronto, Ontario based gold mining company whose sole business is a gold mining operation in northern Ontario, obtained protection under the CCAA on December 7. As a result of the COVID-19 pandemic, in March 30, 2020 the company temporarily suspended its mining operations for four months, negatively impacting its liquidity position as it was required to obtain additional financing to restart its operations and continue as a going concern. The company has also experienced numerous operational difficulties, resulting in a revenue shortfall of about $22 million from the company's projections for 2021. Prior to the CCAA filing, the company, with the assistance of FTI as financial advisor, conducted a strategic process that led to a wholly-owned subsidiary of Silver Lake Resources Limited being selected as DIP lender and stalking horse bidder. The company intends to conduct a SISP in the CCAA proceedings. FTI was appointed monitor. Counsel is Stikeman Elliott for the company, Goodmans for the monitor, TGF for the company's board of directors, Osler for the DIP lender, Fasken for BNP Paribas and McCarthy Tétrault for Appian Capital.