Vancouver, British Columbia--(Newsfile Corp. - August 14, 2020) - Seahawk Ventures Inc. (CSE: SHV) ("Seahawk") announces that it has closed the non-brokered private placement announced in its press release of July 2, 2020 (the "Placement"). Seahawk has raised gross proceeds of $392,367.75 through the sale of 1,569,471 Units at a price of $0.25 per Unit. Each Unit consists of one common share in the capital of the Corporation (a "Unit Share") and one common share purchase warrant (a "Warrant") entitling the holder to acquire one common share in the capital of the Corporation (a "Warrant Share") for three years from the Closing Date at a price of $0.50.
Seahawk's CEO Giovanni Gasbarro commented, "In determining the places who would participate in the Placement, Seahawk selected investors it believes share management's vision of the long term value of investing in the Company's shares. These are exciting times for companies in the gold exploration business, and the funds raised in the Placement will help Seahawk move forward with the exploration of its Quebec properties."
The shares sold in the private placement are subject to a hold period which expires on December 15, 2020. A 6% finder's fee payable in cash was paid in respect of certain of the places who participated in the placement. The gross proceeds from the sale of units will be used for mineral exploration expenses in the Province of Quebec, and for general working capital purposes.
ON BEHALF OF THE BOARD
Giovanni Gasbarro
CEO and Director
For more information please contact Seahawk Ventures Inc. - seahawkventuresinc.com
Giovanni Gasbarro,
CEO and Director at 1-604-939-1848
Mitchell E. Lavery, P. Geo.
President and Director at 1-613-298-1596
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CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This presentation contains forward-looking statements or forward-looking information (forward-looking statements). These statements can be identified by expressions of belief, expectation or intention, as well as those statements that are not historical fact. Forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this press release are based on our current estimates, expectations and projections, which the company believes are reasonable as of the current date. Actual results could differ materially from those anticipated or implied in the forward-looking statements and as a result undue reliance should not be placed on forward-looking information.
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