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WHD West Hawk Development Corp.

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Share Name Share Symbol Market Type
West Hawk Development Corp. TSXV:WHD TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

West Hawk Announces Closing of Private Placement

27/11/2009 11:13pm

Marketwired Canada


West Hawk Development Corp. (TSX VENTURE:WHD) ("West Hawk" or the "Company")
announces that it has closed its previously announced private placement (the
"Private Placement") of units on a non-brokered basis. On closing, an aggregate
of 3,999,999 units were issued at $0.015 per unit, for aggregate gross proceeds
to the Company of $60,000. Each unit (a "Unit") consists of one common share of
the Company (a "Share") and one half of one non-transferable common share
purchase warrant (a "Warrant"). Each whole Warrant is exercisable into one
additional common share of the Company for a period of 24 months following the
closing at an exercise price of $0.07 per share during the first 12 months
following closing and $0.10 per share thereafter.


The Company originally announced on August 25, 2009 that it proposed to issue up
to 166,666,667 units on a brokered basis for gross proceeds of up to $2,500,000.
However, the Company and its agent were not able to complete the financing on
this basis. As a result of the significant reduction in the size of the
financing and the Company's urgent need for capital, the Company is immediately
seeking new sources of funding. The Company expects to issue a further press
release updating its shareholders in the near future.


All the securities of the Company issued to the subscribers pursuant to the
Private Placement are subject to a hold period which under the applicable
securities laws and the Exchange policies will expire on March 21, 2010.


The proceeds raised will be used for general working capital purposes.

On behalf of the Board of Directors,

Gonzalo Torres-Macchiavello, President and Chief Executive Officer

About the Company: West Hawk Development Corp. is focused on providing valuable,
high-demand energy products from a variety of sources. Assets include the Figure
Four natural gas property located in the Piceance Basin, Colorado, being
developed under a drilling and development agreement and the Groundhog coal
property located in northwest British Columbia.


Cautionary Note: This report contains forward looking statements, particularly
those regarding cash flow, capital expenditures and investment plans. By their
nature, forward looking statements involve risk and uncertainties because they
relate to events and depend on factors that will or may occur in the future.
Actual results may vary depending upon exploration and development activities,
industry production, commodity demand and pricing, currency exchange rates, and,
but not limited to, general economic factors.


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended, or any state securities laws and may not be offered or sold within
the United States unless an exemption from such registration is available.


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