By Sheri Kasprzak
New York, July 12 - Hawk Precious Minerals Inc. said it plans to raise up to C$2 million in a private placement.
The offering includes up to 5 million common-share units at C$0.20 each and up to 4 million flow-through units at C$0.25 each.
The common-share units consist of one share and one half-share warrant. The whole warrants provide for an additional share at C$0.35 each for 18 months.
The flow-through share units are comprised of one flow-through share and one half-share warrant. The whole warrants allow for an additional share at C$0.35 each for 18 months.
Dominick & Dominick Securities Inc. is the placement agent.
The first closing of the deal is expected to take place next week. The offering may close in multiple tranches.
Based in Toronto, Hawk is a mineral exploration company. The proceeds will be used for Canadian Exploration Expenses on mineral properties in Ontario. The remainder will be used for working capital.
| Issuer: | Hawk Precious Minerals Inc.
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| Issue: | Common and flow-through share units
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| Amount: | C$2 million (maximum)
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| Placement agent: | Dominick & Dominick Securities Inc.
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| Pricing date: | July 12
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| Non flow-through units
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| Issue: | Units of one common share and one half-share warrant
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| Units: | 5 million (maximum)
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| Price: | C$0.20
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.35
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|
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| Flow-through units
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| Issue: | Units of one flow-through share and one half-share warrant
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| Units: | 4 million (maximum)
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| Price: | C$0.25
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| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.35
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