Seahawk Termines Proposed Change of Business, Plans Name Change and $2.0M Non-Brokered Financing
Rhea-AI Summary
Seahawk Ventures (OTC: SEHKF) terminated two June 17, 2025 share exchange agreements with Alluvial Capital and FlexGPU after the recent passing of founder Keith Talbot, with no termination fees or advances owing.
The company halted trading June 18, 2025 and expects CSE approval to resume trading. Seahawk plans to refocus on exploration, change its name back to Seahawk Gold Corp., and pursue a $2,000,000 non-brokered financing via up to 5,000,000 Units at $0.40 per Unit. Each Unit includes one share and one-half warrant (warrant exercise $0.80, 1-year term). Units subject to a four-month-and-one-day hold period; proceeds targeted to exploration, property review and working capital.
Positive
- Non-brokered financing up to $2,000,000
- Offering of up to 5,000,000 Units at $0.40 each
- Each Unit includes one share plus 0.5 warrant (exercise $0.80, 1 year)
- Planned return to four gold properties in the Urban-Barry Greenstone Belt
Negative
- Termination of proposed transactions with Alluvial and FlexGPU
- Trading halt since June 18, 2025 pending CSE approval to resume
- Potential shareholder dilution from issuance of up to 5,000,000 Units
Vancouver, British Columbia--(Newsfile Corp. - October 24, 2025) - Seahawk Ventures Inc. (CSE: SEAG.X) (OTC Pink: SEHKF) ("Seahawk"), announces that further to its press release dated June 18, 2025, it has terminated the each of the share exchange agreement dated June 17, 2025 with Alluvial Capital Corp. ("Alluvial") and its shareholders as well as the amended and restated share exchange agreement dated June 17, 2025 with FlexGPU Inc. ("FlexGPU") and its shareholders, following the recent passing of Keith Talbot, who was a founder of both entities.
There was no penalty or termination fee payable by either the Company, Alluvial or Flex GPU in connection with the termination of the agreements, nor had any advances been made by the Company to either of Alluvial or Flex GPU. Trading in the common shares of the Company was halted on June 18, 2025, upon announcement of the proposed transactions with Flex GPU and Alluvial (the "Transactions") in accordance with the policies of the Canadian Stock Exchange ("CSE"). As the Transactions will not proceed, trading of the Company's shares is expected to resume on the CSE once approved by the CSE.
Following same and in light of current economic conditions, the Company plans to return its focus to its exploration portfolio and look to unlock the value of its four gold properties located along the Urban-Barry Greenstone Belt in the Abitibi sub province of Quebec.
In connection therewith, the Company announces its intention to change its name back to "Seahawk Gold Corp." reflective of its revitalized focus on exploration and intends to complete a non-brokered financing to raise up to
Each Unit will consist of one common share and one half of one share purchase warrant. Each whole warrant will entitle the holder to acquire an additional common share at a price of
Finder's fees may be payable on all or any portion of the Financing, which is subject to regulatory and exchange approval. The proceeds of the Financing will be used for exploration activities, reviewing additional mineral property acquisition opportunities and general working capital purposes.
On behalf of the Board of Directors
Giovanni Gasbarro
CEO and Director
Telephone: (604) 939-1848
About Seahawk Gold Corp.
Seahawk Gold Corp. is a publicly traded Canadian resource exploration company trading in Canada (CSE: SEAG), the U.S. (OTC Pink: SEHKF). Seahawk is the
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the anticipated plans for and results of exploration programs are "forward-looking statements". Forward-looking statements in this news release include, but are not limited to, statements with respect to the terms of the proposed Financing, the likelihood of finder's fees being paid, the timing of closing of the Financing and the proposed use of proceeds. These forward-looking statements reflect the expectations or beliefs of the management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company 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.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271902
FAQ
What did Seahawk (SEHKF) announce on October 24, 2025 about the June 17, 2025 transactions?
How much is Seahawk (SEHKF) seeking to raise in the non-brokered financing?
What does each Unit in Seahawk's (SEHKF) financing include and what are the warrant terms?
When will Seahawk (SEHKF) shares be tradable again on the CSE?
Why is Seahawk (SEHKF) changing its name to Seahawk Gold Corp?
How will Seahawk (SEHKF) use the proceeds from the proposed financing?
