Published on 11/15/2005 in the Prospect News PIPE Daily.
New Issue: West Hawk Development raises C$2.05 million in private placement
By Sheri Kasprzak
New York, Nov. 15 - West Hawk Development Corp. said it concluded a private placement for C$2,052,500.
The company issued 4.5 million non flow-through shares at C$0.40 each and 561,112 flow-through shares at C$0.45 each to Maverix Fund Management, Sprott Asset Management Inc., Sprott Asset Management Inc. (Sprott Bull/Bear RSP Fund), Sprott Asset Management Inc. (Carleton University Endowment), Sprott Asset Management Inc. (Sprott Canadian Equity Fund), Sprott Asset Management Inc. (Sprott SAL Investments), Sprott Asset Management Inc. (Sprott Opportunities Hedge Fund), Sprott Asset Management Inc. (Sprott Energy Fund) and Sprott Asset Management Inc. (Sprott Custodied Funds).
The investors also received warrants for 4,780,556 shares, exercisable at C$0.50 each for two years.
Max Capital Markets Ltd. was the placement agent.
Based in Vancouver, B.C., West Hawk is a mineral exploration company.
| Issuer: | West Hawk Development Corp.
|
| Issue: | Non flow-through and flow-through shares
|
| Amount: | C$2,052,500
|
| Investors: | Maverix Fund Management, Sprott Asset Management Inc., Sprott Asset Management Inc. (Sprott Bull/Bear RSP Fund), Sprott Asset Management Inc. (Carleton University Endowment), Sprott Asset Management Inc. (Sprott Canadian Equity Fund), Sprott Asset Management Inc. (Sprott SAL Investments), Sprott Asset Management Inc. (Sprott Opportunities Hedge Fund), Sprott Asset Management Inc. (Sprott Energy Fund), Sprott Asset Management Inc. (Sprott Custodied Funds)
|
| Placement agent: | Max Capital Markets Ltd.
|
| Settlement date: | Nov. 15
|
| Stock price: | C$0.355 at close Nov. 15
|
|
|
| Non flow-through shares
|
| Shares: | 4.5 million
|
| Price: | C$0.40
|
| Warrants: | No
|
|
|
| Flow-through shares
|
| Shares: | 561,112
|
| Price: | C$0.45
|
| Warrants: | No
|
|
|
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