Hawkeye Systems terminates Letter of Intent to Acquire Blue Gold International Limited
Hawkeye Systems, Inc. (OTC-QB: HWKE) has terminated its Letter of Intent (LOI) with Blue Gold International Limited due to failure to agree on closing conditions. CEO Corby Marshall noted the potential value of Blue Gold's gold asset but emphasized the importance of aligning terms with existing shareholders. Hawkeye is now actively seeking alternative strategic opportunities while winding up its existing PPE business.
- Hawkeye's decision to actively pursue other strategic alternatives indicates ongoing growth potential.
- The termination of the LOI may signal challenges in securing valuable acquisitions.
- Existing shareholders' preferences were not met, possibly leading to dissatisfaction.
SAVANNAH, Ga., Sept. 9, 2022 /PRNewswire/ -- Hawkeye Systems, Inc. (OTC-QB: HWKE)
Hawkeye has terminated the LOI with Blue Gold International Limited due to the inability to get to agreement on closing conditions. Corby Marshall, CEO of Hawkeye Systems Inc., stated "We like the underlying value of the gold asset Blue Gold represents, unfortunately we could not reach terms that would be acceptable to our existing shareholders. While we are disappointed in this outcome, we are very actively pursuing other strategic alternatives."
About Hawkeye Systems, Inc.
Hawkeye Systems, Inc. is a technology holding company which has focused on cutting edge technology, pandemic management products and services. The Company has made the decision in the current environment to seek out alternative opportunities while we continue to wind up our existing PPE business.
For more information, please contact:
Corby Marshall, CEO
Number: +1 (800) 531-8799
Email: info@hawkeyesystemsinc.com Website: hawkeyesystemsinc.com
Investor relations: ir@hawkeyesystemsinc.com
About Blue Gold International Limited
Blue Gold International Limited is an owner and operator of long-life gold mines which it is developing into high quality and sustainable producers of gold. Growth, sustainable development, and transparency are at the heart of the company's established business practices for growth and consolidation within Africa.
For more information, please contact:
Abenaa Agyekum, Legal Counsel
Number: +233 302 779041
Website: bluegoldinternational.com
Investor relations: investors@bluegoldinternational.com
Disclaimer and Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our dependence on third-party suppliers and partners; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. Important factors that may cause the actual results to differ from those expressed within may include but are not limited to the success or failure of Hawkeye's efforts to successfully market its products and services; Hawkeye's ability to attract and retain quality employees; the effect of changing economic conditions; increased competition; the ability of Hawkeye to obtain adequate debt or equity financing. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.
This press release contains valuation information based upon or derived from information generally believed to be reliable based on comparable companies. The information represents our view as of the date hereof and is subject to change and/or withdrawal at any time without notice. The information may be based on (a) data that may no longer be current, (b) estimates that may involve highly subjective assessments and (c) models that may change from time to time and may be different from assumptions and models used by other persons. No representation is made that it is accurate or complete and Hawkeye and Blue Gold accept no liability with regard to the reader's reliance on it.
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SOURCE Hawkeye Systems, Inc.
FAQ
What led to Hawkeye Systems terminating the LOI with Blue Gold International Limited?
What does the termination of the LOI mean for Hawkeye Systems?
What is the current strategic focus of Hawkeye Systems after the LOI termination?
How might the termination of the LOI affect HWKE shareholders?
