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Press release from CNW Group


Thursday, July 07, 2011

HAWK ANNOUNCES ISSUANCE OF CLASS A SHARES ON DEEMED EXERCISE OF SUBSCRIPTION RECEIPTS AND CHANGE TO THE BOARD OF DIRECTORS17:38 EDT Thursday, July 07, 2011/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./CALGARY, July 7, 2011 /CNW/ - Hawk Exploration Ltd. ("Hawk" or the "Corporation") is pleased to announce that it has successfully received all necessary approvals in respect of the previously completed bought deal private placement of 12,500,000 subscription receipts ("Subscription Receipts") at an issue price of $0.80 per Subscription Receipt for aggregate gross proceeds of approximately $10.0 million (the "Offering"), completed on May 18, 2011, including, but not limited to, approval of the TSX Venture Exchange (the "TSXV") with respect to the Offering and all other necessary shareholder, corporate and regulatory approvals (collectively, the "Escrow Release Conditions"). The Offering was conducted by a syndicate of underwriters led by National Bank Financial Inc. and including Fraser Mackenzie Limited and Haywood Securities Inc.With the satisfaction of the Escrow Release Conditions, 12,500,000 subscription receipts issued pursuant to the Offering were deemed to be exercised for an aggregate of 12,500,000 Class A shares of Hawk for no additional consideration or action on the part of the holder. The Class A Shares will be subject to a hold period under applicable Canadian securities laws expiring on September 19, 2011.Annapolis Investment Limited Partnership V and Annapolis Investment (US) Limited Partnership V (collectively, "Annapolis") purchased 10,000,000 Subscription Receipts pursuant to the Offering. After the conversion of the Subscription Receipts into Class A Shares, Annapolis owns 10,000,000 Class A Shares, representing approximately 29% of the Corporation's outstanding share capital resulting in Annapolis becoming a new Control Person (as that term is defined under the policies of the TSXV).Hawk is also pleased to announce Peter Williams as a newly appointed board member. Mr. Williams is currently the President, Chief Executive Officer and a director of Annapolis Capital Limited. Mr. Williams holds a Bachelor of Laws and a Bachelor of Arts (Economics) from Dalhousie University.Hawk is an emerging Corporation engaged in the exploration, development and production of conventional crude oil and natural gas in western Canada and is based in Calgary, Alberta. The Class A Shares and Class B Shares of Hawk trade on the TSXV under the trading symbols of HWK.A and HWK.B, respectively.Cautionary Statements:Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The Class A Shares offered have not 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 many not be offered or sold in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable states securities laws.For further information: Steve Fitzmaurice      Dennis Jamieson  President, CEO and Chairman      Chief Financial Officer Tel: (403) 264-0191 Ext 225     Tel: (403) 264-0191 Ext 234 Email: Email: