HAWK ANNOUNCES ISSUANCE OF CLASS A SHARES ON DEEMED EXERCISE OF SUBSCRIPTION RECEIPTS AND CHANGE TO THE BOARD OF DIRECTORS
08 July 2011 - 7:38AM
PR Newswire (Canada)
CALGARY, July 7, 2011 /CNW/ -- /NOT FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY
FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION
OF U.S. SECURITIES LAWS./ CALGARY, July 7, 2011 /CNW/ - Hawk
Exploration Ltd. ("Hawk" or the "Corporation") is pleased to
announce that it has successfully received all necessary approvals
in respect of the previously completed bought deal private
placement of 12,500,000 subscription receipts ("Subscription
Receipts") at an issue price of $0.80 per Subscription Receipt for
aggregate gross proceeds of approximately $10.0 million (the
"Offering"), completed on May 18, 2011, including, but not limited
to, approval of the TSX Venture Exchange (the "TSXV") with respect
to the Offering and all other necessary shareholder, corporate and
regulatory approvals (collectively, the "Escrow Release
Conditions"). The Offering was conducted by a syndicate of
underwriters led by National Bank Financial Inc. and including
Fraser Mackenzie Limited and Haywood Securities Inc. With the
satisfaction of the Escrow Release Conditions, 12,500,000
subscription receipts issued pursuant to the Offering were deemed
to be exercised for an aggregate of 12,500,000 Class A shares of
Hawk for no additional consideration or action on the part of the
holder. The Class A Shares will be subject to a hold period under
applicable Canadian securities laws expiring on September 19, 2011.
Annapolis Investment Limited Partnership V and Annapolis Investment
(US) Limited Partnership V (collectively, "Annapolis") purchased
10,000,000 Subscription Receipts pursuant to the Offering. After
the conversion of the Subscription Receipts into Class A Shares,
Annapolis owns 10,000,000 Class A Shares, representing
approximately 29% of the Corporation's outstanding share capital
resulting in Annapolis becoming a new Control Person (as that term
is defined under the policies of the TSXV). Hawk is also pleased to
announce Peter Williams as a newly appointed board member. Mr.
Williams is currently the President, Chief Executive Officer and a
director of Annapolis Capital Limited. Mr. Williams holds a
Bachelor of Laws and a Bachelor of Arts (Economics) from Dalhousie
University. Hawk is an emerging Corporation engaged in the
exploration, development and production of conventional crude oil
and natural gas in western Canada and is based in Calgary, Alberta.
The Class A Shares and Class B Shares of Hawk trade on the TSXV
under the trading symbols of HWK.A and HWK.B, respectively.
Cautionary Statements: Neither the TSX Venture Exchange nor its
Regulation Services Provider (as the term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy the securities in any jurisdiction. The Class A Shares offered
have not 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 many not be offered or sold in the
United States except in certain transactions exempt from the
registration requirements of the U.S. Securities Act and applicable
states securities laws. To view this news release in HTML
formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/July2011/07/c4138.html
table border="0" tr td bSteve
Fitzmaurice/b /td td bDennis
Jamieson /b /td /tr tr td President, CEO and Chairman
/td td Chief Financial Officer /td /tr tr
td Tel: (403) 264-0191 Ext 225 /td td Tel:
(403) 264-0191 Ext 234 /td /tr tr td Email: a
href="mailto:steve@hawkexploration.ca"steve@hawkexploration.ca/a
/td td Email: a
href="mailto:dennis@hawkexploration.ca"dennis@hawkexploration.ca/a
/td /tr /table
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