Seahawk arranges $1.05-million private placement

Nov 6, 2018

2018-11-05 16:08 ET – News Release

Mr. Giovanni Gasbarro reports

SEAHAWK VENTURES INC. ANNOUNCES PRIVATE PLACEMENT

Seahawk Ventures Inc. is undertaking a non-brokered private placement of common shares to raise gross proceeds of up to $1.05-million.

Seahawk intends to issue up to 2,781,250 shares in the placement, of which 781,250 shares will be sold for 32 cents per share (hard dollar) and two million shares will be sold on a flow-through basis at a price of 40 cents per share.

The gross proceeds from the sale of the flow-through shares will be used for mineral exploration in the province of Quebec, which will qualify as Canadian exploration expenses for purposes of the Income Tax Act (Canada) and will be renounced effective Dec. 31, 2018. Such Canadian exploration expenses shall also qualify as flow-through mining expenditures for purposes of Subsection 127(9) of the Income Tax Act (Canada) and as expenditures that qualify for the provincial tax deduction for mineral exploration conducted in the province of Quebec.

The net proceeds from the sale of the private placement shares will be used to finance the advancement of the company’s projects and for working capital purposes.

Finder’s fees of up to 7 per cent may be paid to finders in connection with the placement.

About Seahawk Ventures Inc.

Seahawk Ventures is a publicly traded Canadian resource exploration company. Seahawk is now the third-largest land owner in the Urban-Barry greenstone belt in the Abitibi subprovince of mining-friendly Quebec, Canada, with 100-per-cent ownership of several mineral properties.

We seek Safe Harbor.

https://www.seahawkventuresinc.com/news-archive