By Devika Patel
Knoxville, Tenn., July 24 - Gold Hawk Resources Inc. announced that it has entered into a bought-deal agreement to raise C$10 million through a private placement.
The company plans to issue and sell 16,666,700 shares at C$0.60 per share.
The offering has a greenshoe of up to 2.5 million additional shares, exercisable up to three days before closing. Closing is expected to occur by Aug. 16.
Goldhawk will pay underwriter Octagon Capital Corp a cash fee of 7% of the gross proceeds on closing, and broker warrants equal to 9% of the shares sold. Each broker warrant is exercisable at C$0.60 per share, for two years.
All of the securities will have a four month hold period.
Proceeds will be used for exploration, development and general working capital purposes.
Based in Vancouver, B.C., Gold Hawk is a gold exploration company.
| Issuer: | Gold Hawk Resources Inc.
|
| Issue: | Stock
|
| Amount: | C$10 million
|
| Shares: | 16,666,700
|
| Greenshoe: | 2.5 million
|
| Price: | C$0.60
|
| Warrants: | No
|
| Underwriter: | Octagon Capital Corp.
|
| Pricing date: | July 23
|
| Closing date: | Aug. 16
|
| Stock symbol: | TSX Venture: CGK
|
| Stock price: | C$0.62 at close July 23
|
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