🕐13.05.11 - 17:27 Uhr
HAWKEYE GOLD (HGO.V) RECEIVES TSX-V OK FOR YUKON ACQUISITIONS
Symbol C : HGO <../Quote/Detail.aspx?symbol=HGO®ion=C>
Shares Issued 15,771,534
HAWKEYE RECEIVES TSX-V ACCEPTANCE FOR YUKON PROPERTY ACQUISITIONS
Hawkeye Gold & Diamond Inc.
has received TSX Venture Exchange (TSX-V)
acceptance for filing of three separate but identical option agreements
to acquire a 100-per-cent interest in each of the DART, MINT and TOP
properties from the Yes Exploration Syndicate Inc.
The properties are
situated in the Carmacks Caldera located 125 km northwest of Whitehorse.
The Carmacks Caldera is inferred to be a volcanic-related subsidence
structure (collapsed volcano) that hosts significant northwest trending
geological structures and has important gold geochemical signatures.
Total consideration for the DART, MINT and TOP Properties consists of
cash payments totalling $1,050,000, $4,500,000 in exploration
expenditures ($750,000 first year), the issuance of 999,000 common
shares plus an additional number of shares over three years.
Within 10
days from TSX-V acceptance the Company must pay $150,000 cash and issue
a total of 999,000 common shares in the capital of the issuer to the
vendor of the Properties.
In addition, over the next three anniversaries
from TSX-V acceptance the Company must pay a total of $900,000 cash and
issue that number of shares that is equal to $75,000 (first
anniversary), $100,000 (second anniversary) and $125,000 (third
anniversary) at a deemed price of the greater of the discounted market
price (as defined by Exchange policy) 10 days after the first, second
and third anniversaries of TSX-V acceptance and the price of the
companys most recent equity financing during the six months preceding
the pricing date.
The Option Agreement is subject to a 3% NSR over each Property.
The
Company can repurchase one-third (1%) of each royalty for $875,000 prior
to the fifth anniversary of TSX Venture Exchange approval or for
$1,250,000 at any time subsequent to the fifth anniversary and prior to
the date of commencement of commercial production.
A finders fee of $15,000 cash and 25,000 common shares is payable in
connection with the Property acquisitions.
Further news will be forthcoming in connection with commencement dates
for work programs to be performed over the Properties during the summer
of 2011.
HAWKEYE GOLD & DIAMOND INC.
<>Greg Neeld <>
President & CEO
Toll Free: 1-800-665-3624 Email:
Vancouver: 1-604-878-1339 Web Site: www.hawkeyegold.com
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