HAWKEYE CLOSES SECOND TRANCHE OF $900,000 PRIVATE PLACEMENT
Hawkeye Gold & Diamond Inc. has received TSX Venture Exchange acceptance and closed upon the second tranche of a $900,000 non-brokered private placement previously announced in Stockwatch on July 9, 2010. The placement closed with Hawkeye issuing a total of 870,000 units at a price of 15 cents per unit, raising the issuer a total of $130,500. The company has raised a total of $630,000 to date by closing the first two tranches and anticipates closing upon the balance shortly. Each unit consists of one common share in the capital of the corporation and one share purchase warrant. Each warrant will entitle the holder to purchase one additional share for 25 cents at any time prior to 4:30 p.m. (Vancouver time) on March 16, 2012, at which time the warrants will expire, provided that if at any time after Sept. 15, 2010, the issuer shares have a closing price of 35 cents or more per share for 30 consecutive trading days on the TSX-V, Hawkeye shall be entitled to give notice to the holders of the warrants that the warrants will expire 30 days from the date of mailing of such notice unless 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 30-day period. Proceeds will be used for general working capital, acquisition costs and to finance Hawkeye's work program over its Scotia property.
In connection with the closing of the second tranche of the private placement, the issuer has paid cash finders' fees totalling $11,550 and issued finders' warrants to purchase up to 77,000 common shares in the capital of the company at a price of 15 cents per share, exercisable under the same terms as the warrants attached to the units for this private placement.
All securities issued in connection with this private placement are subject to a four-month hold expiring Jan. 16, 2011. |
