Gold Hawk Share Price Triggers Warrants' Forced Exercise Provision
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/20/10 -- Gold Hawk Resources Inc. ('Gold Hawk' or the 'Company') (TSX VENTURE: GHK) announces that warrantholders of 878,200 common share purchase warrants with an exercise price of $1.25 (the 'Warrants') are now subject to a 30-day forced exercise provision as the Company's closing share price met or exceeded $1.50 for the past 10 consecutive trading days.
On May 20, 2010, the TSX Venture Exchange approved the amendment of the exercise price of the Warrants from $1.75 to $1.25 and the extension of the term of the Warrants from June 3, 2010 to June 3, 2011, provided that if the closing price of the Company's shares is $1.50 or greater for a period of 10 consecutive trading days, then the holders of the Warrants (the 'Warrantholders') will have 30 days to exercise their Warrants; otherwise the Warrants will expire on the 31st day.
Among other exercise provisions, the Company requires a completed Schedule 'A' attached to the certificates representing the Warrants (the 'Warrant Certificates') with registration and delivery instructions as well as payment for the Warrants to exercise by 4 p.m. PT on November 19, 2010.
For additional information, Warrantholders are requested to refer to their Warrant Certificates for the detailed exercise requirements, the media release of the Company dated May 19, 2010 'Gold Hawk proposes amendments to share purchase warrants' and the Notice to Warrantholders sent in June 2010 by the Company to the Warrantholders regarding the amended exercise price and term of the Warrants.
Warrantholders requiring additional information are requested to contact Jason Mercier at 604-689-9261.
About Gold Hawk Resources Inc.
Gold Hawk (TSX VENTURE: GHK) is a Vancouver, Canada-based company with a focus on uncovering overlooked and undervalued projects to achieve superior shareholder returns. The Company is the sole owner and operator of the Oracle Ridge copper mine project which is located 24 km northeast of Tucson, Arizona. Gold Hawk is debt-free, has working capital of more than $17 million and is managed by a team of mining professionals with extensive operating experience.
This document may contain 'forward-looking statements' within the meaning of Canadian securities legislation. These forward-looking statements are made as of the date of this document and Gold Hawk Resources Inc. (hereinafter referred to as the 'Company') do not intend, and do not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect management of the Company's expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, commodity prices, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage.
In certain cases, forward-looking statements can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved' or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Gold Hawk Resources Inc.
Mr. Jason Mercier
Investor Relations
(604) 689-9261
info@goldhawkresources.com
www.goldhawkresources.com