By Devika Patel
Knoxville, Tenn., May 20 - Gold Hawk Resources Inc. said it has arranged a C$1.5 million private placement of units.
The company will sell 30 million units at C$0.05 apiece. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.07 for one year.
Insiders will be buying 25% of the units.
Proceeds will be used for activities at the company's Coricancha mine, planning for the new permanent tailings area at Chinchan and for general corporate purposes.
Gold Hawk is a precious metal producer based in Vancouver, B.C.
| Issuer: | Gold Hawk Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 30 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.07
|
| Pricing date: | May 20
|
| Stock symbol: | TSX Venture: CGK
|
| Stock price: | C$0.06 at close May 20
|
| Market capitalization: | C$13.6 million
|
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