07:52:08 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Hawkmoon Resources Corp
Symbol HM
Shares Issued 70,411,337
Close 2022-06-07 C$ 0.04
Market Cap C$ 2,816,453
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Hawkmoon arranges, closes first tranches of financings

2022-06-07 13:23 ET - News Release

Mr. Branden Haynes reports

HAWKMOON RESOURCES ANNOUNCES TWO NON-BROKERED PRIVATE PLACEMENTS, CLOSING OF FIRST TRANCHES OF PRIVATE PLACEMENTS AND PREPARES FOR DRILLING ON WILSON PROPERTY

Further to its news release from April 13, 2022, Hawkmoon Resources Corp. has prepared a comprehensive budget for its planned 5,000-metre drill program on the Wilson project, expected to commence in July, 2022. Hawkmoon is well financed with flow-through capital from its last private placement close in December, 2021, and has earmarked those funds for exploration expenditures this summer and fall.

In order to finance continuing general and administrative expenses, the company is announcing its intention to carry out a non-brokered hard-dollar private placement of up to $500,000, to be carried out through two offerings.

Through the first offering, the company intends to issue up to 10 million warrants of the company at a price is 2.5 cents per warrant, for aggregate gross proceeds of up to $250,000. Each warrant will be exercisable into one common share at a price of 2.5 cents per share at any time prior to 5 p.m. on the date that is 24 months from the closing date.

Through the second offering, the company intends to issue up to five million units of the company at a price of five cents per unit, for aggregate gross proceeds of up to $250,000. Each unit will consist of one share at five cents and one common share purchase warrant with each unit warrant exercisable into one share at a price of seven cents per share at any time prior to 5 p.m. on the date that is 24 months from the closing date. All securities issued in connection with the offerings will be subject to a four-month-and-one-day hold period under applicable securities laws.

The company is pleased to announce that it has closed (i) a first tranche of the warrant offering, through the issuance of 4.2 million warrants, for gross proceeds of $105,000, and (ii) a first tranche of the unit offering, through the issuance of three million units, for gross proceeds of $150,000. The company paid a finder's fee of $12,005 and issued 560,000 warrants to a finder for introducing investors to the company who participated in the first tranche. All securities issued in connection with the first tranche are subject to a four-month-and-one-day hold period under applicable securities laws.

Branden Haynes, chief executive officer of Hawkmoon, stated: "At Wilson, we are looking to define the resource by completing another meaningful drill program. The net proceeds from the offerings are expected to be used for general working capital and some market awareness programs."

About Hawkmoon Resources Corp.

Hawkmoon is focused entirely on its two Quebec gold projects. The Wilson gold project is located in one of the world's largest gold-endowed areas, the Abitibi greenstone belt. The Wilson project is accessed by government-maintained roads and is in close proximity to the east of the town of Lebel-sur-Quevillon. The second project is situated in the Belleterre gold camp southwest of Val d'Or.

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