News Release
west hawk announces private placement
February 8th, 2008 - Denver, CO: West Hawk Development Corp. (TSXV: WHD; Frankfurt: H5N) (the "Company") announces a non-brokered private placement of up to 5,000,000 units of the Company at a price of $0.20 per unit, for aggregate gross proceeds to the Company of $1,000,000.
Each unit is comprised of one common share of the Company and one warrant to acquire an additional share at $0.40 for a period of two years. The warrants will be subject to early expiry if, following the date that is four months following the Closing, the daily volume-weighted average trading price of the Company's common shares on the TSX Venture Exchange over a period of 10 consecutive trading days is equal to or greater than $0.60.
The aggregate proceeds raised will be used by the Company to complete Well 4 at its Figure Four Property in the Piceance Basin, and for business development expenditures related to its Groundhog Coal property in British Columbia, and a planned coal gasification project in the United States.
All securities sold in the offering will be subject to a hold period expiring four months and one day following the date of issue. Completion of the financing is subject to the approval of the TSX Venture Exchange.
On behalf of the Board of Directors,
"Dr. Wm. Mark Hart"
Dr. Wm. Mark Hart
President and Chief Executive Officer
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
About the Company: West Hawk Development Corp is focused on providing valuable, high-demand energy products from a variety of sources. Assets include the Figure Four natural gas property located in the Piceance Basin, Colorado, being developed under a drilling and development agreement; the Groundhog coal property located in northwest British Columbia; the Tulita coal property in the Northwest Territories; and the Ellesmere Island, Nunavut Territory coal property.
Cautionary Note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specially noted, are considered speculative. The Company has filed a National Instrument 51-101 Report on the Figure Four property. The Company has filed National Instrument 43-101 Reports for each of the Tulita coal property in the Northwest Territories, the Nunavut Coal property and the Groundhog Coal property. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary note to U.S. investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Each unit is comprised of one common share of the Company and one warrant to acquire an additional share at $0.40 for a period of two years. The warrants will be subject to early expiry if, following the date that is four months following the Closing, the daily volume-weighted average trading price of the Company's common shares on the TSX Venture Exchange over a period of 10 consecutive trading days is equal to or greater than $0.60.
The aggregate proceeds raised will be used by the Company to complete Well 4 at its Figure Four Property in the Piceance Basin, and for business development expenditures related to its Groundhog Coal property in British Columbia, and a planned coal gasification project in the United States.
All securities sold in the offering will be subject to a hold period expiring four months and one day following the date of issue. Completion of the financing is subject to the approval of the TSX Venture Exchange.
On behalf of the Board of Directors,
"Dr. Wm. Mark Hart"
Dr. Wm. Mark Hart
President and Chief Executive Officer
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
About the Company: West Hawk Development Corp is focused on providing valuable, high-demand energy products from a variety of sources. Assets include the Figure Four natural gas property located in the Piceance Basin, Colorado, being developed under a drilling and development agreement; the Groundhog coal property located in northwest British Columbia; the Tulita coal property in the Northwest Territories; and the Ellesmere Island, Nunavut Territory coal property.
Cautionary Note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specially noted, are considered speculative. The Company has filed a National Instrument 51-101 Report on the Figure Four property. The Company has filed National Instrument 43-101 Reports for each of the Tulita coal property in the Northwest Territories, the Nunavut Coal property and the Groundhog Coal property. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary note to U.S. investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Contacts
North America
West Hawk Development, 303-524-1424
Email: news@westhawkdevelopment.com

