Mr. Greg Neeld reports
HAWKEYE CLOSES $503,000 NON-BROKERED PRIVATE PLACEMENT
Hawkeye Gold & Diamond Inc. has closed upon the $500,000 non-brokered non-flow-through and flow-through unit financing originally announced on Aug. 6, 2019. Upon closing of the placement, the company issued 5.84 million non-flow-through units at a price of five cents per unit and 4.22 million flow-through units at a price of five cents per unit for total proceeds of $503,000.
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 10 cents per common share for a period of 24 months expiring Sept. 16, 2021.
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 10 cents per common share for a period of 12 months expiring Sept. 16, 2020.
If the issuer's common shares have a closing price of 20 cents or more per share for 10 consecutive trading days on the TSX Venture Exchange, 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 30 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 30-day period. None of the warrants issued pursuant to the offering will be listed for trading.
Proceeds from the offering will be used for general working capital, trades and exploration expenditures. Finders' fees totalling $20,080 in cash were paid and 401,600 finders' fees broker warrants were issued in connection with closing of the private placement. The broker warrants are subject to the same terms and conditions of the warrants connected to the flow-through and common units.
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 hold period expiring Jan. 17, 2020.
About Hawkeye Gold & Diamond Inc.
Hawkeye Gold & Diamond is a junior mineral exploration and development company based in Vancouver, B.C., Canada. The company's precious and base metal properties are located: in the prolific Golden Triangle of northwestern British Columbia; in the world-class Barkerville gold camp; and on Vancouver Island.
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