Hathor reports $10 Million Bought Deal

Hathor Exploration reports that it has entered into an agreement to sell 4,250,000 flow-through shares at a price of CDN$2.40 to raise CDN$10,200,000, on a bought deal private placement basis.

The Underwriters will receive a cash commission on the sale of the Flow-Through Shares, representing 5.5% of the gross proceeds raised, including Brokers Warrants (“Broker Warrants”) equal to 5.5% of the Offering. Each Broker Warrant shall be exercisable for one common share of the Company at a price of CDN$3.00 at any time up to 24 months after closing.

The Company intends to use the net proceeds of the Offering to conduct exploration activities on their Athabasca Basin uranium projects.

Closing of the Offering is anticipated to occur on or before March 18th, 2010 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange.

For complete press release, click here.