CALGARY, July 24, 2014 /CNW/ - Hawk Exploration Ltd. ("Hawk" or the "Corporation") announces that, effective July 31, 2014, all of the Corporation's
issued and outstanding Class B Shares will be automatically converted
to Class A Shares of the Corporation with a conversion ratio of ten
Class A Shares for each Class B Share so converted, in accordance with
the terms of the Class B Shares.
As of the date hereof, Hawk has 1,080,000 issued and outstanding Class B
Shares and 34,775,952 issued and outstanding Class A Shares. Following
the conversion, Hawk expects that it will have 45,575,952 Class A
Shares issued and outstanding.
For beneficial shareholders of Class B Shares who hold their shares in
an account with their investment dealer or other intermediary, their
account will be automatically updated to reflect the conversion. For
registered shareholders, share certificates representing the Class A
Shares issuable as a result of the conversion will be mailed on or
about August 6, 2014.
The Class B Shares are currently listed and traded on the facilities of
the TSX Venture Exchange under the symbol HWK.B. In connection with
the conversion of the Class B Shares into Class A Shares, the Class B
Shares will be suspended from trading on July 31, 2014 and will be
de-listed from the TSX Venture Exchange shortly thereafter.
Hawk is an emerging exploration company 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 TSX Venture Exchange under the
trading symbols of HWK.A and HWK.B, respectively.
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.
Forward Looking Statements: This press release contains forward-looking
statements. More particularly, this press release contains statements
concerning the conversion of the Class B Shares, the suspending and
delisting of the Class B Shares, the number of Class A Shares that will
be outstanding on July 31, 2014 and the mailing of Class A Share
certificates to registered holders. The forward-looking statements
contained in this document are based on certain key expectations and
assumptions made by Hawk. Although Hawk believes that the expectations
and assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the forward-looking
statements because Hawk can give no assurance that they will prove to
be correct. Since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. The
forward-looking statements contained in this document are made as of
the date hereof and Hawk undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a
result of new information, future events or otherwise, unless so
required by applicable securities laws.
SOURCE: Hawk Exploration Ltd.
For further information:
President, CEO and Chairman
Tel: (403) 264-0191 Ext 225
Chief Financial Officer
Tel: (403) 264-0191 Ext 234