Seahawk Ventures Inc. Completes First Tranche of Financing and Grants Stock Options
Vancouver, December 30, 2019 - Seahawk Ventures Inc. (CSE: SHV) ("Seahawk") announces that it has closed the first tranche of its non-brokered private placement announced in its press release of December 20, 2019. Seahawk has raised gross proceeds of $115,900 through the sale of 463,600 Units at a price of $0.25 per Unit. Each Unit consisted 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.
The shares sold in the private placement are subject to a hold period which expires on May 1, 2020. There are no Finder's fees in connection with 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.
The Company also announces it has granted incentive stock options to certain directors and consultants of the Company for the right to purchase up to an aggregate of 1,000,000 common shares, exercisable at a price of $0.25 per share for a period of 24 months. The stock options are granted in accordance with the Company's Stock Option Plan, which was approved by the shareholders at the Company's annual general meeting on December 11, 2019, and the policies of the Canadian Stock Exchange.
ON BEHALF OF THE BOARD
Giovanni Gasbarro
CEO and Director
For further information, please contact:
Giovanni Gasbarro
(604) 939-1848
giogas2@gmail.com
Neither the Canadian Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
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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