Oracle Ridge Copper Mine - Tucson, Arizona
2.17% copper - Production facility construction is expected to begin in the first half of 2012
Message: Closes Non-Brokered Private Placement
| June 3, 2009 |
| Gold Hawk Closes Non-Brokered Private Placement |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 3, 2009) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Gold Hawk Resources Inc. ("Gold Hawk" or the "Company") (TSX VENTURE:CGK) announces today that the Company has completed a non-brokered private placement of 25,050,000 Units at a price of $0.05 per Unit for aggregate proceeds of $1,252,500. Each Unit is comprised of one common share and one 12-month share purchase warrant at $0.07. The Company will use the net proceeds of the private placement to support ongoing activities at the Coricancha Mine, planning for the new permanent tailings area at Chinchan and for general corporate purposes. The Company plans to re-start production at Coricancha later this year once re-start financing is in place. "We are very pleased to complete the private placement considering current market conditions," said Kevin Drover, Gold Hawk's President and CEO. "The closing of the private placement provides Gold Hawk with the funds to support the planning activities necessary to obtain re-start financing by this summer." Gold Hawk Insiders subscribed for 25% of the private placement, the maximum allowable under TSX Venture Exchange policies. The non-brokered private placement was announced on May 20, 2009. All securities distributed pursuant to the private placement are subject to a four-month plus one day hold period that expires on October 4, 2009. The private placement has received conditional regulatory approval and a finders' fee may be payable on a portion of the private placement in accordance with the policies of the TSX Venture Exchange. This media release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Gold Hawk Resources Inc. Gold Hawk (TSX VENTURE:CGK) is a Canada-based precious metals company with reserves and resources containing gold, silver, lead, zinc and copper and a near-term production project at the Coricancha Mine and 600 tonnes of ore per day processing facility, located 90kms east of Lima, Peru. On January 7, 2009 the Company received its final permit to construct a new permanent tailings facility at Chinchan and has all of the other permits required for the re-start of the mine. Gold Hawk is based in Vancouver, Canada and is operated by an experienced management team. Gold Hawk and its wholly owned subsidiary, Compania Minera San Juan (Peru) S.A. also have exploration properties in Peru and Canada (Quebec). |
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