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.
About Hawk
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.