May 22, 2002
HAWKEYE completes $680,200 financing
Hawkeye Gold International Inc. (the "Company") is pleased to announce that
it has closed its Short Form Offering Document financing that was previously
announced on April 25, 2002. The Offering qualified for distribution
4,534,666 Units at a price of $0.15 per share raising the Company gross
proceeds of $680,200 or net proceeds of $603,153 (Cdn.) after payment of
expenses and commission to the Company's agent Canaccord Capital Corporation
(the "Agent"). Each unit consists of one common share and one common share
purchase warrant. 2,504,400 of the units are flow-through units and
2,030,266 of the units are non-flow-through units. Each warrant can be
exercised to acquire one additional common share which is not a flow-through
share at an exercise price of $0.15 on or before May 17, 2003.
The Agent received 275,000 common shares in the capital of the Company for
corporate finance services and Agent's Warrants to purchase up to 680,200
common shares in the capital of the Company at a price of $0.15 per share
exercisable on or before May 17, 2003.
The Company intends to use flow-through funds totalling $375,660 to carry
out work programs on its YANKEE property, located on Victoria Island,
Nunuvat, Canada. The initial work program includes additional ground
geophysical surveys and a four hole diamond drilling program covering
established priority targets.
A news release will follow in the next few days disclosing commencement
dates and specific details of the work programs.
HAWKEYE GOLD INTERNATIONAL INC.
Per:
"Greg Neeld"
Greg Neeld
President & CEO
Toll Free: 1-800-665-3624
Vancouver: 1-604-878-1339
Email: haw@hawkeyegold.com
Web Site: www.hawkeyegold.com
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the accuracy or adequacy of this release. |
