20 November 2015
TORONTO, ONTARIO--(Marketwired - Nov. 20, 2015)
NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX VENTURE:NHK) is pleased to announce that it has completed a private placement offering of secured notes (the "Notes") for an aggregate principal amount of $850,000 (the "Offering"). The net proceeds from the sale of the Notes will be used by the Company for working capital and general corporate purposes.
The Notes pay interest at a fixed rate of 12% per annum, calculated daily and compounded monthly and are payable in cash semi-annually. The Notes mature on May 23, 2017 (the "Maturity Date"), and are secured by general security agreements on the property of the Company. The Company may prepay the Notes at any time prior to the Maturity Date, without penalty, provided that any interest owed to the date of prepayment that has not already been remitted to the Note holders is also remitted to the Note holders.