Hertz Energy closes $420,000 private placement for antimony project

Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: A340) completed a non-brokered private placement raising $420,000 through the sale of 4.2 million units at $0.10 per unit, according to a company statement.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional shares at $0.125 within 36 months of the closing date. The securities are subject to a four-month hold period under Canadian securities laws.

The Vancouver-based company plans to use proceeds for general administrative purposes and to advance its Lake George Antimony Project in New Brunswick. The project encompasses claims surrounding the former Lake George Antimony Mine, which operated intermittently from 1876 to 1996 and was once North America's largest primary antimony producer.

Hertz Energy focuses on mineral exploration in Eastern Canada, with four assets targeting lithium, antimony and tungsten mineralization in Quebec and New Brunswick.

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