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Seahawk Gold Corp. is a Canadian resource exploration company focused on the Urban-Barry Greenstone Belt in Quebec, Canada. The company owns four properties and has engaged in various exploration programs utilizing advanced technologies like AI to identify drill targets and evaluate gold mineralization potential. Recent activities include IP surveys, drill hole compilations, and geophysical analysis, with plans for upcoming diamond drilling programs to further assess mineralized zones and expand exploration efforts.
Seahawk Gold Corp (CSE: SEAG) (OTC Pink: SEHKF) has provided a corporate update regarding two main developments. First, the company has terminated its previously announced plans for a complete acquisition of FlexGPU as an AI data center development company, citing insufficient business advancement. Instead, Seahawk has agreed to acquire FlexGPU's sole asset - a 10-acre property in Williams County, North Dakota - for $350,000, payable through the issuance of 2 million common shares subject to a four-month hold period.
Additionally, Seahawk has renewed all its Touchdown claims in Quebec for another two years until 2027, with future work program plans to be announced. The company has applied to the CSE for resumption of trading, as shares were halted following the initial FlexGPU announcement in June 2024.
Seahawk Gold Corp. (CSE: SEAG, OTC: SEHKF) has announced its annual general meeting scheduled for January 24, 2025. Meeting materials will be mailed to shareholders and filed on SEDAR+ by December 30, 2024. The company has extended the deadline for finalizing a definitive agreement with FLEXGPU to January 30, 2025, with the acquisition closing deadline now set for March 30, 2025. In case of Canada Post labour disputes affecting material distribution, Seahawk will provide alternative instructions for shareholders to access materials and vote.
Seahawk Gold Corp. (CSE: SEAG) (OTC Pink: SEHKF) has announced an update regarding its transaction with FLEXGPU. The company and FLEXGPU have agreed to extend the deadline for entering into a definitive agreement to November 30, 2024. Additionally, they have extended the deadline for closing the transaction to February 28, 2025. This extension follows previous announcements made on June 26, 2024, and October 1, 2024, regarding the letter agreement dated June 25, 2024. Seahawk has stated that it will provide further updates as progress is made towards completing the transaction. In the meantime, trading in Seahawk's stock will remain halted.
Seahawk Gold Corp. (CSE: SEAG) (OTC Pink: SEHKF) has announced an extension to October 18, 2024 for the letter agreement with FLEXGPU, an AI data center development company. This agreement will be replaced by a Definitive Agreement involving Seahawk's acquisition of all FLEXGPU shares. The transaction will result in a change of business for Seahawk, requiring approval from the Canadian Securities Exchange (CSE) and shareholders.
The agreement may be terminated if: (a) the Definitive Agreement isn't entered by October 18, 2024; (b) the closing doesn't occur by November 30, 2024; or (c) the CSE doesn't approve the transaction. Seahawk's stock trading remains halted pending completion of the transaction. The company will provide further updates as it progresses towards finalizing the deal.
Seahawk Gold Corp. (CSE: SEAG, OTC Pink: SEHKF) announced the acquisition of FlexGPU, an AI data center developer. This transaction will mark a fundamental business change and requires Seahawk's shareholder approval. The deal involves issuing 10 million common shares at $0.20 each and an additional 20 million performance-based shares, also at $0.20 each, to FlexGPU shareholders. FlexGPU will raise $6 million via convertible debt financing, which Seahawk will assume. Post-acquisition, most Seahawk directors will resign, except for Giovanni and Bruno Gasbarro. Seahawk will continue to hold its mineral properties and seek buyers post-closing. The deal is subject to due diligence, regulatory, and shareholder approvals, and trading in Seahawk’s stock remains halted.
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