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Hawk Uranium Inc. Announces Extension to Term of Warrants
Toronto,
ON – January 19, 2009 – Hawk Uranium Inc. (TSX-V:HUI, FRANKFURT:HPM) (“Hawk”
or the “Company”) is pleased to announce that it has received approval
from the TSX Venture Exchange (the “Exchange”) for a one-year extension
to the term of issued and outstanding warrants exercisable for a total of
20,348,316 common shares at an exercise price of $0.50 per share (the
“Warrants”).� The Warrants were issued as part of a private
placement that closed in three tranches on January 19, 2007, January 29,
2007 and February 9, 2007.� � Gross proceeds of approximately
$4,211,663 were raised in that private placement.� Since issuance,
none of the Warrants have been exercised and all of the Warrants are
outstanding.
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As
originally issued, these Warrants had a term of two years, expiring on
January 19, 2009, January 29, 2009 or February 9, 2009, depending on the
date of issuance.� Hawk has extended the term of these Warrants for
one additional year, with the result that they would expire on January 19, 2010,
January 29, 2010 or February 9, 2010, as applicable.�
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As
disclosed in Hawk’s press release of December 11, 2008 (and the
subsequent correction notice in its press release of January 13, 2009),
Hawk had been seeking a three-year extension to the term of the Warrants
and a reduction in their exercise price.� � Also as previously
disclosed, under Exchange policies, it is a pre-condition that Hawk obtain
the written consent of all of the Warrant-holders to those requested
changes.� Hawk is in the process of contacting the applicable
Warrant-holders to request the required consents, but has not received
consents from all Warrant-holders at this time.� As a result, Hawk
has proceeded with a one-year extension to the term of its Warrants.�
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About
Hawk Uranium
Hawk Uranium Inc. is a
Canadian based junior mining company with a portfolio of diversified
exploration projects at various stages of exploration and drilling, for
Nickel/Copper/PGM in the ‘Ring of Fire’ McFauld’s Lake Area of N. Ontario,
Gold in N. Ontario and� Uranium in N. Saskatchewan, Ontario and
Quebec.
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More detailed information is
available on the website at www.hawkuranium.com
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CAUTIONARY STATEMENT
The
TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.� �
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
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The
foregoing information may contain forward-looking statements relating to
the future performance of Hawk Uranium Inc. Forward-looking statements,
specifically those concerning future performance, are subject to certain
risks and uncertainties, and actual results may differ materially from
Hawk's plans and expectations. These plans, expectations, risks and
uncertainties are detailed herein and from time to time in the filings made
by Hawk with the TSX Venture Exchange and securities regulators.� Hawk
does not assume any obligation to update or revise its forward-looking
statements, whether as a result of new information, future events or
otherwise.
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Contacts:
Hawk Uranium Inc.:
H. Vance White
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Corinna
de Beer
Investor
Relations
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Phone:
Phone:
Fax:
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416-214-2250
866-214-9486
416-367-1954
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Phone:
eMail:
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416-792-0343
ir@hawkuranium.com
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