More NEWS from Hawkeye:
Hawkeye Gold Corporation HAW
Shares issued 5,215,314 May 13 close $0.30
Fri 15 May 98 Acquisition
The VSE has accepted for filing an agreement dated Oct. 6, 1997 whereby
Hawkeye Gold can acquire from the vendor, Grizzly Gold, an 85 per cent
interest in the Front Range properties near Hinton, Alberta.
To exercise the option, Hawkeye has agreed to pay $20,000 and issue 50,000
shares within 10 days of the date on which the exchange accepts the
agreement, to Grizzly. In addition, Hawkeye will incur a work expenditure
on the property of $175,000 within one year of the acceptance date.
Hawkeye has also agreed to pay an additional $320,000 in stages prior to
the third anniversary of the acceptance date; spend an additional $925,000
within two years of the acceptance date; and issue an additional 150,000
shares in stages, prior to the completion of the third phase exploration
program.
Hawkeye also has the option to purchase an additional 10 per cent (95 per
cent in total) within 60 days following the date of announcement of a
positive feasibility study on the property, by paying Grizzly $1,000,000
for each additional 1 per cent interest in the property.
A finder's fee is payable to Pinnacle Resources (Pamela D. Strand) in
stages, prior to the third anniversary of the agreement date, totalling
$25,500 and 15,000 shares.
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