Vancouver, British Columbia--(Newsfile Corp. - November 5, 2018) - Seahawk Ventures Inc. (CSE: SHV) ("Seahawk") announces that it is undertaking a non-brokered private placement of common shares to raise gross proceeds of up to $1,050,000 (the "Placement").
Seahawk intends to issue up to 2,781,250 shares in the Placement, of which 781,250 shares will be sold for $0.32 per share (the "HD Shares"), and 2,000,000 shares will be sold on a flow-through basis at a price of $0.40 per share (the "FT Shares").
The gross proceeds from the sale of the FT 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) ("CEE") and will be renounced effective December 31, 2018. Such CEE shall also qualify as "flow-through mining expenditures" for purposes of subsection 127(9) of the Income Tax Act (Canada) and as expenditures which 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 fund the advancement of the Company's projects and for working capital purposes.
Finder's fees of up to 7% may be paid to finders in connection with the Placement.
About Seahawk Ventures Inc.
Seahawk Ventures Inc. is a publicly traded Canadian resource exploration company trading in Canada (CSE: SHV), the U.S. (OTC Pink: SEHKF) and Germany (FSE: 7SR). Seahawk is now the 3rd largest land owner in the Urban-Barry Greenstone Belt in the Abitibi sub province of mining friendly Quebec, Canada, with 100% ownership of several mineral properties.
For more information please contact Seahawk Ventures Inc.
Giovanni Gasbarro,
CEO and Director at 1-604-939-1848
Mitchell E. Lavery, P.Geo.
President and Director at 1-613-298-1596
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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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