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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") advises that on November 5th, 2008 its stock was cease traded by the British Columbia Security Commission (BCSC) for failure to file a National Instrument 43-101 compliant technical report in connection with the Company's proposed acquisition of the Heavener Mine announced September 4, 2008. During the BCSC review of the draft technical report on the Heavener Mine prepared for the Company by WEIR International, the BCSC identified deficiencies in the report that were not compliant with National Instrument 43-101. As a result of these deficiencies and certain deficiencies in the Company's disclosure related to the Heavener Property, the BCSC has issue a cease trade order pending the issue by the Company of a press release clarifying the September 4, 2008 announcement and the filing of a compliant technical report. Management of the Company is currently working with WEIR International and the BCSC to address all of the BCSC's concerns as quickly as possible. On behalf of the Board of Directors, Wm. Mark Hart, Chairman 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; the Groundhog coal property located in northwest British Columbia; the Tulita coal property located in the Northwest Territories; and the Ellesmere Island, Nunavut Territory coal property. 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 for each of the Groundhog coal property in British Columbia, the Tulita coal property in the Northwest Territories, and the Nunavut coal property. 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.
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