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Harfang Announces the Grant of Stock Options to Directors, Officers, Employees and Consultants and Extension of Expiry Date of Warrants

MONTREAL, May 22, 2020 (GLOBE NEWSWIRE) -- Harfang Exploration Inc. (“Harfang”) (TSX-V: HAR) announces the grant of 300,000 stock options to directors, officers and employees and 37,500 stock options to consultants. These stock options are granted in accordance with the terms of the stock option plan of Harfang. All options vest on their date of grant and each option entitles the holder thereof to purchase one (1) common share of Harfang at a price of $0.25 per common share for a period of ten (10) years from May 22, 2020.

Harfang also announces that, subject to required approvals from regulatory authorities, it will extend until July 12, 2022 the expiry date of 1,282,500 common share purchase warrants issued in connection with a private placement closed on July 12, 2018, under which Harfang distributed 2,565,000 units at a price of $0.25 per unit. Each unit consisted of one (1) common share and one half purchase warrant, each whole warrant entitling to subscribe for one (1) additional common share of Harfang at a price of $0.40 per share until July 12, 2020. No warrants have been exercised and reporting insiders of Harfang currently hold or control approximately 3.9 % of the warrants.

About Harfang

Harfang is a mining exploration company whose primary mission is to discover new gold districts in the province of Québec. Harfang’s development model is based on the generation of new mining projects and on the establishment of partnerships with major exploration and mining companies to advance its exploration projects.

Forward-Looking Statements

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Harfang’s periodic reports including the filings made by Harfang from time to time with securities regulatory authorities.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. The securities described herein may not be offered or sold in the United States absent registration or an exemption from registration.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact:

Harfang Exploration Inc.
François Goulet, President and Chief Executive Officer
Tel: 514 940-0670 #339
Email : fgoulet@harfangexploration.com

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