Hawkmoon Resources Announces Two Non-Brokered Private Placements, Closing of First Tranches of Private Placements and Prepares for Drilling on Wilson Property

Rhea-AI Summary

Hawkmoon Resources Corp. (CSE:HM; OTCQB:HWKRF) is launching a 5,000-meter drill program on the Wilson Project, funded by a $500,000 private placement. This consists of a Warrant Offering to raise $250,000 by issuing 10 million warrants at $0.025 each, and a Unit Offering to raise another $250,000 by issuing 5 million units at $0.05 each. The initial tranches yielded $105,000 from the Warrant Offering and $150,000 from the Unit Offering, with plans for proceeds to support general working capital and market awareness.

Positive

• Well-financed for exploration with funds from a previous private placement.
• Plans for a 5,000-meter drill program on a strategically located gold project.

Negative

• Dependence on private placements for operational financing.
• No immediate revenue generation from the announced drill program.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Hawkmoon Resources Corp. (CSE:HM; OTCQB:HWKRF; FSE:966) (“Hawkmoon” or the “Company”) is pleased to announce that, further to its news release from April 13^th 2022, it has prepared a comprehensive budget for its planned 5,000 meter drill program on the Wilson Project, expected to commence in July 2022 (the “Drill Program”). Hawkmoon is well financed with flow-through capital from its last private placement close in December 2021 and has earmarked those funds for exploration expenditures this summer and fall.

In order to finance ongoing general and administrative expenses, the Company is announcing its intention to carry out a non-brokered “hard-dollar” private placement of up to $500,000, to be carried out through two offerings.

Through the first offering (the “Warrant Offering”), the Company intends to issue up to 10,000,000 warrants (each, a “Warrant”) of the Company at a price is $0.025 per Warrant, for aggregate gross proceeds of up to $250,000. Each Warrant will be exercisable into one common share (a “Share”) at a price of $0.025 per Share at any time prior to 5:00 pm on the date that is 24 months from the closing date.

Through the second offering (the “Unit Offering” and, together with the Warrant Offering, the “Offerings”), the Company intends to issue up to 5,000,000 units (each, a “Unit”) of the Company at a price of $0.05 per Unit, for aggregate gross proceeds of up to $250,000. Each Unit will consist of one (1) Share at $0.05 and one (1) common share purchase warrant (a “Unit Warrant”) with each Unit Warrant exercisable into one Share at a price of $0.07 per Share at any time prior to 5:00 pm on the date that is 24 months from the closing date. All securities issued in connection with the Offerings will be subject to a four-month and one day hold period under applicable securities laws.

The Company is pleased to announce that it has closed (i) a first tranche of the Warrant Offering (the “Warrant Offering First Tranche”), through the issuance of 4,200,000 Warrants, for gross proceeds of $105,000, and (ii) a first tranche of the Unit Offering (the “Unit Offering First Tranche” and, together with the Warrant Offering First Tranche, the “First Tranche”), through the issuance of 3,000,000 Units, for gross proceeds of $150,000. The Company paid a finder’s fee of $12,005 and issued 560,000 Warrants to a finder for introducing investors to the Company who participated in the First Tranche. All securities issued in connection with the First Tranche are subject to a four-month and one day hold period under applicable securities laws.

Branden Haynes, CEO of Hawkmoon, stated, “At Wilson, we are looking to define the resource by completing another meaningful drill program. The net proceeds from the Offerings are expected to be used for general working capital and some market awareness programs.”

This news release does not constitute an offer to sell or a solicitation of an offer to sell 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.

About Hawkmoon Resources

Hawkmoon is focused entirely on its two Quebec gold projects. Wilson Gold Project is located in one of the world’s largest gold endowed areas, the Abitibi Greenstone Belt. The Wilson is accessed by government-maintained roads and is in close proximity to the east of the town of Lebel-sur-Quévillon. The second project is situated in the Belleterre Gold Camp southwest of Val-d’Or.

For more information, review the Company’s filings available at www.sedar.com.

HAWKMOON RESOURCES CORP.,
ON BEHALF OF THE BOARD
“Branden Haynes”
Branden Haynes, Chief Executive Officer

Forward Looking Statements

This news release contains certain forward-looking statements. The use of the word “expected”, “projected”, “pursuing”, “plans” and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this news release include statements regarding: exploration at the Wilson project, the Offerings and the use of proceeds from the Offerings. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220607005342/en/

Branden Haynes

Chief Executive Officer and Director

Email: branden@hawkmoonresources.com

Telephone: 604-817-1595

Source: Hawkmoon Resources Corp.

FAQ

What is the purpose of Hawkmoon Resources' private placement?

The private placement aims to raise $500,000 for ongoing general and administrative expenses.

What are the key details of the Warrant Offering by Hawkmoon Resources?

The Warrant Offering includes issuing up to 10 million warrants at $0.025 each, aiming for gross proceeds of up to $250,000.

How much did Hawkmoon Resources raise in the first tranche of the offerings?

Hawkmoon Resources raised $255,000 in the first tranche, with $105,000 from the Warrant Offering and $150,000 from the Unit Offering.

What will the proceeds from the offerings be used for?

The proceeds will be used for general working capital and market awareness programs.

When is the drill program on the Wilson Project expected to commence?

The drill program on the Wilson Project is expected to commence in July 2022.