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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

28/05/2008 1:00am

Marketwired Canada


West Hawk Development Corp. (TSX VENTURE:WHD)(FRANKFURT:H5N) (the "Company") is
pleased to announce the closing of the second tranche of its previously
announced non-brokered private placement. An aggregate of 5,302,500 units (the
"Units") were issued at a price of $0.20 per Unit (the "Offering") for gross
proceeds of $1,060,500. A combined 10,007,500 units have been issued from both
tranches for total proceeds of approximately $2,000,000.


Each Unit consists of one common share of the Company (a "Share") and one common
share purchase warrant (a "Warrant"). Each Warrant is exercisable into one
additional Share for a period of 24 months following the closing at an exercise
price of $0.40 per share. The Warrants will be subject to early expiry if,
following the date that is four months following the Offering, the daily
volume-weighted average trading price of the Company's common shares on the TSX
Venture Exchange over a period of 10 consecutive trading days is equal to or
greater than $0.60.


All of the securities issued in the second tranche will be subject to a four
month hold period expiring September 28, 2008. The aggregate proceeds raised
will be used by the Company to advance the Company's Groundhog Coal project in
British Columbia, the 2008 drilling program at the Figure Four property in
Colorado, the advancement of its coal gasification plans, and for general
working capital purposes.


On behalf of the board of directors,

Dr. Wm. Mark Hart, President and Chief Executive Officer

About the Company: West Hawk Development Corp. is focused on providing valuable,
high-demand clean 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; the Groundhog coal
property located in northwest British Columbia; the Tulita coal property in the
Northwest Territories; and the Ellesmere Island, Nunavut Territory coal
property.


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 may or may not occur in the future.
Actual results may vary depending upon exploration activities, industry
production, commodity demand and pricing, currency exchange rates, and, but not
limited to, general economic factors.


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