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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 | |
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0.00 | 0.00% | 0 | - |
West Hawk Development Corp. (TSX VENTURE:WHD) (the "Company") would like to announce that it is acting on a restructuring plan as agreed upon by the Company's Board of Directors (the "Board"). The Board has decided to preserve cash through a substantial downsizing of the Company's staff and offices. The Company will remain focused on the Groundhog coal project in British Columbia, Canada, the West Hawk Energy (U.S.A.), LLC, Chapter 11 restructuring and the Demand for Arbitration and the action filed against EnCana. The Company would also like to announce that Mr. Gonzalo Torres Macchiavello has been appointed President and Chief Executive Officer of West Hawk Development Corp. Dr. Wm. Mark Hart will remain Chairman of the Company at no salary. Dr. Jinsheng Chen will remain in his position as President and CEO of Asian Operations. "The Board has decided to implement these measures to preserve the Company and to adapt to the current worldwide financial crisis," said Gonzalo Torres Macchiavello, President and CEO of West Hawk Development Corp. 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 news release contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specially noted, are considered speculative. The Company has filed a National Instrument 51-101 Report on the Figure Four property. The Company has filed National Instrument 43-101 Reports on the Groundhog coal property in British Columbia. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. 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. Cautionary note to U.S. investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
1 Year West Hawk Development Corp. Chart |
1 Month West Hawk Development Corp. Chart |
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