Vancouver, British Columbia, Canada – HAWKEYE Gold & Diamond Inc. (the “Company” or “HAWKEYE”) (TSX.V-HAWK; Frankfurt Ticker: HGT; WKN: A12A61 ISIN: CA42016R3027): is pleased to announce it has arranged to complete a non-brokered private placement (the “Offering”) to sell flow-through units (“Flow-Through Units”) at a price of $0.05 per Flow-Through Unit, and non-flow-through units (“Common Units”) at a price of $0.05 per Common Unit for gross aggregate proceeds of up to $750,000 (CDN), being the sale of up to an aggregate of 15,000,000 Flow-Through Units and Common Units. The number of Flow-Through Units and Common Units to be sold pursuant to the Offering will be determined by the Issuer based on investor preference.
Each Common Unit will consist of one non-flow through common share of the Company (a “Common Share”) and one transferable share purchase warrant, with each such warrant entitling the holder to acquire one Common Share at a price of $0.10 per Common Share for a period of twenty-four (24) months following closing of the Offering.
Each Flow-Through Unit will consist of one flow-through common share of the Company (a “Flow-Through Share”) and one half of a transferable share purchase warrant, with each such full warrant entitling the holder thereof to acquire one non-flow-through Common Share at a price of $0.10 per Common Share for a period of twelve (12) months following closing of the Offering.
If at any time after the Closing Date the Corporation’s Common Shares have a closing price of $0.20 (CDN) or more per share for ten consecutive trading days on the TSX Venture Exchange (the “TSXV”), the Corporation shall be entitled to give notice to the holders of the warrants issued pursuant to the Flow-Through Units and Common Units that such warrants will expire thirty days from the date of mailing of such notice or the news release of such notice, unless such warrants are exercised before the expiry of that period, and in such event all unexercised warrants will expire at 4:30 p.m. (Vancouver time) on the last day of such thirty day period. None of the warrants issued pursuant to the Offering will be listed for trading.
Proceeds of the Offering will be used to commence summer work programs over HAWKEYE’s properties situated in the Golden Triangle and Barkerville Terrane, located in British Columbia, Canada, and for acquisitions, payables and working capital purposes.
The Flow-Through Units, the Common Units and the underlying securities issued pursuant to the private placement Offering will be subject to a four month plus one day hold period from closing of the Offering in accordance with applicable securities legislation and completion is subject to receipt of applicable regulatory approvals, including the approval of the TSXV. Finder’s fees may be paid on all or a portion of the Offering.
HAWKEYE Gold & Diamond Inc. is a junior mineral exploration and development company based in Vancouver, British Columbia, Canada. The Company’s precious and base metals properties are located in the prolific BC Golden Triangle, world-class Barkerville gold camp and Vancouver Island, BC, Canada. HAWKEYE’s corporate mandate is to build strong asset growth and shareholder value through the acquisition of low-cost, high-potential cash flow and production opportunities with blue sky discovery potential, and to manage our business in an environmentally responsible manner while contributing to the local community and economy.
HAWKEYE GOLD & DIAMOND INC.
President & CEO
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.
Cautionary Notes Regarding Forward Looking Statements
This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results