HAWKEYE Closes upon Its Non-Brokered Flow-Through and Non-Flow-Through Private Placement for $915,000
TSX VENTURE: HAWK
VANCOUVER, BRITISH COLUMBIA. / ACCESSWIRE /October 22, 2018 / HAWKEYE Gold & Diamond Inc. (the "Company" or "HAWKEYE") (TSX.V-HAWK; Frankfurt Ticker: HGT; WKN: A12A61 ISIN: CA42016R3027): announces that subsequent to the Company's original news release dated June 27, 2018 (release No. 288 – 2018) whereby HAWKEYE announced a non-brokered flow-through unit ("Flow-Through-Unit") and non-flow-through unit ("Common Unit") financing at a price of $0.05 per unit for total proceeds of $750,000 (CDN), and a succeeding news release dated September 24, 2018 (release No. 295 – 2018) whereby the Issuer announced it had closed the first tranche of this financing for total proceeds of $850,000 (CDN), and a further news release dated October 11, 2018 (release No. 298 - 2018) whereby the Company announced it would be closing the second tranche of the financing by issuing 1,300,000 Common Units raising total proceeds of $65,000 (CDN), HAWKEYE is pleased to inform our shareholders and the investment community it has received TSX Venture Exchange acceptance and closed upon the placement by issuing 12,000,000 Flow-Through-Units (first tranche) and 6,300,000 Common Units (5,000,000 first tranche and 1,300,000 second tranche) for total proceeds of $915,000 (CDN). Proceeds from the Offering will be used for general working capital, trades and exploration expenditures.
Each Common Unit consists of one non-flow through common share of the Company 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. The 5.000,000 share purchase warrants issued during closing of the first tranche expire on September 18, 2020 and the 1,300,000 share purchase warrants issued during closing of the second tranche expire on October 22, 2020.
Each Flow-Through Unit consists of one flow-through common share of the Company 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. The 6,000,000 share purchase warrants issued during closing of the first tranche expire on September 18, 2019.
If the Issuer'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.
An 8% finders' fee was paid in cash and warrants in connection with the closing of the private placement. The Issuer paid a total of $46,000 cash and issued 920,000 finders warrants which are subject to the same terms and conditions of the warrants connected to the Flow-Through and Common Units. A total of 824,000 finders warrants were issued in connection with the Flow-Through portion of the financing and 96,000 warrants were issued relating to the Common Unit portion of the financing.
The Flow-Through Units, the Common Units ("Units") and the underlying securities issued pursuant to closing of the first tranche of the private placement offering are subject to a four month hold period expiring January 18, 2019 and the Units and underlying securities issued in connection with closing of the second tranche are subject to a four month hold period expiring February 22, 2019.
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
Vancouver: (604) 908-8511
Web Site: www.hawkeyegold.com
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.