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That is the absolute madness what actually happens with RCCH`s PPS!
Hello Garfield, my friend! Welcome aboard!
Nice to see you finally posting here! GO RCCH - RCCH LONG!
Here`s the NEWSLINK:
http://www.otcbb.com/asp/quote_module.asp?symbol=rcch
Yes, of course, they are ALL restricted!
I`ve updated our iBox with the new share structure.
AHHHHHHHHHHHHHHHH! ..the ugly "D" word, again! GRRRRRRRRRRRRRRRRR ..not good! ..really NOT GOOD!
..but perhaps it was worth the deal!?
BTW the new share count for rcch has gone from 169,912,337
on 5-9-08 to 220,312,337 as of 5-19-08
..was that the last payment for the CPIC-deal or do we have to expect further dilution in RCCH shares??? I`m not very happy at the moment to see our o/s growing by 50m without any explanations by the management!
Ask uptick to .005!
Bid/Ask: .0045 X .0047 OOOOOOUUUUUUCH!!! WTF happened to RCCH`s PPS??? ..next short-attack by Etrade??? Ok, so I`ll avg. down a bit more the next days! NJAMNJAM!
So our market-cap is only @240k US$!? ..very nice! At the moment we have a great buy-opp.! ..will add some more here soon I think!
GLTA
hh
Thx for the welcome! BTW: Do you know the actual o/s here?
Agreed! ..chart is looking pretty awesome now! ..bought a "starter-kit" out of the Ask some minutes ago!
GLTA "Axions"!
hh
As soon as the shorts in RCCH will be forced to cover (for example by a cash dividend,..) all the Longs in this golden-gem-stock will be in "Investor`s-Heaven"! Shorter`s losses could grow huge if not to say close to INFINITY if they not start to cover IMMEDIATELY!!!
GLTA RCCH-LONGS!
hh
-imho-
LONGTERM-TIMEBOMB-CHART:
According to Pinksheets/SEC filings Gargoyles, Inc. was a Washington corp. we have discovered that they are now a Delware Corp, see below + U.S. Bancorp ownes 31,600,342 = 80.2%
GLTA GOYL-LONGS!
hh
I`m still holding my small stake in GOYL bought several months ago!
GOYL is still a sleeper thus far - but could make a nice pop anytime now! I like the fact that we have a real LOWFLOATER-shell here! Nice R/M candidate I would say!
Anybody any thoughts???
GLTA
hh
Nice gains for a Friday! +60% on very low volume! ..chart would look fairly good if PPS could break .01`s resistance! IMO
This week is almost over, my friend! LOL ..but if you should have meant the next week: Chart is looking primed for a huge pop! ..we`ll see what happens - I HAVE TONS OF PATIENCE brought along for my investment here! ..holding my RCCH-shares for the long haul! (Timeframe: Several years!)
RCCH LONG, soooo LOOOOOOONG!
GLTA
hh
http://www.westhawkdevelopment.com/operation/
http://www.westhawkdevelopment.com/operation/colorado/
http://www.westhawkdevelopment.com/operation/colorado/figure-four-update/
http://www.westhawkdevelopment.com/exploration/
http://www.westhawkdevelopment.com/exploration/coal/nwt/
http://www.westhawkdevelopment.com/exploration/coal/nunavut/
http://www.westhawkdevelopment.com/exploration/coal/groundhog/
http://www.westhawkdevelopment.com/news/
http://www.westhawkdevelopment.com/company/
http://www.westhawkdevelopment.com/technology/
http://www.westhawkdevelopment.com/investor/
http://www.westhawkdevelopment.com/
GO WHD, GO Dr. Hart, thx for your awesome job you`re doing for West Hawk! I`ll be invested here for many years to come!
GLTA WHD-LONGS!
hh
May 15, 2008 – Denver, Colorado, USA:
West Hawk creditors approve settlement agreements with Fuselier
West Hawk Development Corp. (“West Hawk”) (TSX.V – WHD, Frankfurt – H5N) (the “Company”) is pleased to announce that Fuselier Holding, LLC, of Richardson, Texas (“Fuselier”) has successfully reached agreements with all of the creditors who either held a lien, or who had filed an action against West Hawk related to the trade debt on its Figure Four property in the Piceance Basin.
Last week, Fuselier’s legal counsel, Gretchen VanderWerf of VanderWerf PC in Denver, CO, submitted Settlement Agreements to all of the above creditors of West Hawk. After reviewing the Settlement Agreements, all of the creditors are pleased to have a plan in place which provides for the payment of the debt owed by the Company. The Settlement Agreements received landslide approval, and has removed one of the last roadblocks, allowing West Hawk to comply with the terms and provisions of the Drilling & Development Agreement for the Figure Four Project.
“As a result of the collaborative team effort by all parties involved, we were able to move beyond the “hard rock” on specific terms and reach agreements with more than 25 creditors in less than a month. This has been a “breakthrough” for West Hawk, and Fuselier is extremely pleased at the successful outcome. Reaching these agreements in such a short period of time represents a significant event. I want to express my personal gratitude and appreciation for everyone’s tireless efforts in quickly and successfully resolving all of the outstanding payment issues.” stated Dr. Jean R. Fuselier Sr., President & CEO of Fuselier Holding, LLC.
Roger Baer, CFO of West Hawk stated “We are very pleased that our creditors have reached agreement with Fuselier. The process has allowed the Company to focus on final completion efforts at Figure Four, as well as our coal project development plans announced earlier this week”.
On behalf of the Board of Directors,
Dr. Wm. Mark Hart
President and Chief Executive Officer
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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 in the Northwest Territories; and the Ellesmere Island, Nunavut Territory coal property.
About Fuselier Holding, LLC: Fuselier Holding provides equity financing to publicly traded companies. By tailoring innovative, strategic financial solutions for each client, Fuselier implements an appropriate investment structure which allows the client to focus on its company fundamentals. Fuselier takes a synergistic approach which not only builds an ongoing relationship with their clients, but allows for overall growth and improvement in the company, the community, and the national economy. Visit http://www.fhhelp.com for more information.
Cautionary Note: This report 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 Tulita coal property in the Northwest Territories, the Nunavut Coal property and the Groundhog 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 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.
Contacts
North America
West Hawk Development, 303-524-1424
Email: news@westhawkdevelopment.com
May 13, 2008 - Denver, Colorado, USA:
West Hawk and Fev Energy to acquire coal mine and coalbed methane operation
West Hawk Development Corp. ("West Hawk") (TSX.V - WHD, Frankfurt - H5N) (the "Company") is pleased to announce that it has entered into a letter of intent with FEV, a private Denver, Colorado based Energy Company to acquire and develop a coal mine and coalbed methane gas operation in Oklahoma and Arkansas.
Currently both companies, West Hawk and FEV, are in a due diligence process to evaluate the best mining and business alternatives for the coal property. As soon as this process is satisfactorily completed, both companies will start to develop the coal mine and coal bed methane extraction system. The property has existing infrastructure with access to rail, paved roads, water, and power on site. Water transportation is nearby and all permits are in place. The product has a long history of being used in the North American and International market and can be taken to market by either rail or water.
The coal resource has produced high quality metallurgical and thermal coal on a continuous basis since the early 1900's. Farrell-Cooper Mining Company ("Farrell"), a private company based in Oklahoma and Arkansas, has mined the Hartshorne coal seam with surface mining techniques since the 1940's. The low volatile, low moisture, 6 to 8% ash, and 1% sulfur product with in excess of 13,000 Btu per pound coal was processed through a preparation and processing plant and supplied to the high demand export and domestic metallurgical coal market.
Upon completion of a satisfactory due diligence: "
Both parties will incorporate a new limited liability company (LLC) in which West Hawk will own one third, and FEV will own two thirds "
West Hawk will manage the new company and manage the coal and coal bed methane extraction operation(s) "
FEV will manage the gas gathering and gas sales operations "
FEV and its associates are committed to provide project financing to the new LLC "
West Hawk will commission a CNI Report to provide a potential resource estimate
Farrell Cooper Mining Company specializes in surface mining and is selling the property since it will require underground mining techniques. Farrell mined this property to a highwall and West Hawk will now use underground techniques to mine the remaining coal seam as an underground resource and extract the gas in an integrated fashion.
"We are extremely pleased to work with FEV Energy, as the vision of both companies is very similar in terms of bringing clean energy to the world. They have an outstanding group of people and both teams compliment each other in terms of operations and financial capabilities. West Hawk also sees this move as strategic to our British Columbia, Groundhog project, as the two coals can compliment each other in the PCI, metallurgical, and gasification market," said Wm. Mark Hart, President and CEO of West Hawk Development Corp.
"We have been evaluating various companies to develop this underground deposit as we completed the surface mining portion of the property and we look forward to a long working relationship with West Hawk and FEV as together these companies have the operating, technical and financial strength to create substantial value," said William J. Cooper, President of Farrell Cooper Mining Company.
This coal can be used in the metallurgical market, the steam market and for gasification to Coal-to-Liquids, Coal-to-Gas, or Coal-to-Power. West Hawk proposes to extract gas from the coal seam and associated strata and distribute to nearby pipelines for distribution to the market. Subject to due diligence, it appears that the resource may be able to support three separate mining operations, with a 14 mile long outcrop.
"West Hawk Development has been seeking a financial partner to back its experienced mining operation team. West Hawk's operational capabilities and FEV's financial strength have helped the team win this opportunity," said Richard F. Braun, director at West Hawk.
"The companies were up against some very large players in the bidding process, but we have won the opportunity and we are very pleased," said Roger A. Baer, CFO of West Hawk.
"With existing permits, installed infrastructure, control over the gas rights, and an extremely hungry market for this product, we can bring this product to market much quicker than the typical operation," stated Dr. Jinsheng Chen, President of Asian operations for West Hawk.
"The Arkoma coal region has provided energy for 100 years building America, making steel, and providing a superior fuel for heat and electricity. West Hawk looks forward to working with our partners to build a world-class clean energy system on this superb property," stated Dr. Andrew P. Schissler, Executive Vice President of Engineering, West Hawk.
"Dr. Schissler is leading the due diligence and development team through to production, at which time, the project will be handed over to the operational team," stated Gonzalo Torres Macchiavello, President of North America Operations, West Hawk.
On behalf of the board of directors,
"Dr. Wm. Mark Hart"
Dr. Wm. Mark Hart
President and Chief Executive Officer
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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, coal quality and investment plans; being historic in nature, cannot be verified by the Company, do not comply with modern reporting standards (NI 43-101), and therefore should not be relied upon. 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 Tulita coal property in the Northwest Territories, the Nunavut Coal property and the Groundhog 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 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.
Contacts
North America
West Hawk Development, 303-524-1424
Email: news@westhawkdevelopment.com
May 8, 2008 – Denver, Colorado, USA:
Fuselier meets and proposes settlement terms with all creditors of West Hawk
West Hawk Development Corp. (“West Hawk”) (TSX.V – WHD, Frankfurt – H5N) (the “Company”) is pleased to announce that Fuselier Holdings, LLC (“Fuselier”) announced today that it has now met with all creditors of West Hawk, including at a global meeting with 29 creditors present who had filed lawsuits or made liens against West Hawk.
Fuselier reports formal agreements have now been made to all creditors and that responses are expected on or before May 14th, 2008. The aggregate amount of debt addressed in these proposals to creditors total US$8.5 million; the majority of that debt has been assigned to Fuselier. The proposed agreements include terms of release by lien holders of current encumbrances against West Hawk assets.
"Curing the lien/lawsuit situation of West Hawk should allow that Company to grow swiftly by allowing it to pursue corporate goals without restriction. I am pleased at the overall cooperation of all parties involved, including an effort by West Hawk to see that all creditors are paid and by creditors in giving freedom to West Hawk for expansion and strategic growth," said Dr. Jean R. Fuselier, Sr., President and CEO of Fuselier Holding, LLC.
Fuselier previously announced a definitive agreement to transfer and assign to Fuselier approximately US$10.6 million in outstanding trade debt, including all the debt outstanding for West Hawk's natural gas property being developed in Colorado.
On behalf of the Board of Directors,
Dr. Wm. Mark Hart
President and Chief Executive Officer
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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 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. 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 Tulita coal property in the Northwest Territories, the Nunavut Coal property and the Groundhog 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 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.
Contacts
North America
West Hawk Development, 303-524-1424
Email: news@westhawkdevelopment.com
May 6, 2008 – Denver, Colorado, USA:
Lu’an makes another investment in the West Hawk Energy, Colorado gas project
West Hawk Development Corp. (“West Hawk”) (TSX.V – WHD, Frankfurt – H5N) (the “Company”) is pleased to announce the managing board of West Hawk Energy, USA, LLC (“WHE”) has secured financial arrangements with Lu’An Mining Group (“Lu’An”) for a cash investment of US$5 million. Lu’An has agreed to invest US$5 million in WHE to maintain their current 25% ownership position in WHE. The proceeds will be used by WHE towards the 2008 drilling program at its gas project, in the Piceance Basin, Colorado.
“We had an outstanding Board meeting at Lu’An headquarters, in Changzhi City, Shanxi Province, where we reviewed the gas project and future coal and coal gasification plans” stated Roger A. Baer, CFO, West Hawk Development Corporation.
“During the Board meeting both companies had very good discussions concerning coal gasification and agreed that in addition to advanced gasification technology the focus must be on mature gasification technologies,” stated Dr. Wm. Mark Hart, President and CEO. Afterwards the Board toured Lu’An’s U$3.6 billion Coal-to-Liquids and IGCC plant that is currently under phase 1 construction which is projected to start production this fall with an annual capacity of 3 million tons per year of liquids. This plant is ultimately projected to produce 5.2 million tons of liquids annually and to produce approximately 250 MW of power via IGCC. “West Hawk is continuing to look at advanced and mature gasification technologies that meet the above criteria,” stated Dr. Jinsheng Chen, West Hawk President and CEO of Asian Operations.
“Lu’An’s investment in WHE confirms our continued belief in West Hawk and the Colorado natural gas project”, added Mr. Ren, Chairman of Lu’An Mining Group.
West Hawk expects to start drilling again in June.
On behalf of the Board of Directors,
“Dr. Wm. Mark Hart”
Dr. Wm. Mark Hart
President and Chief Executive Officer
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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.
About Lu’An Mining Group: Lu'An is a multi-billion dollar company listed on the Shenzhen Stock Exchange, China and is a partner of WHE with a focus on gas and coal gasification. Lu'An's business includes coal mining, coal gasification to liquids, coal power generation and coal chemicals.
Cautionary Note: This report 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 Tulita coal property in the Northwest Territories, the Nunavut Coal property and the Groundhog 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 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.
Contacts
North America
West Hawk Development, 303-524-1424
Email: news@westhawkdevelopment.com
May 5, 2008 – Denver, Colorado, USA:
New executive joins West Hawk to advance coal, gas and gasification projects
West Hawk Development Corp. (“West Hawk”) (TSX.V – WHD, Frankfurt – H5N) (the “Company”) is pleased to announce that Dr. Andrew P. Schissler is joining the company effective immediately as Executive Vice President of Engineering. Dr. Schissler will be responsible in leading design, engineering, and construction of all projects including the BC - Groundhog, NWT - Tulita, and Ellesmere Island coal properties in Canada; the Figure Four Gas Project in Colorado, a US coal project and expanding energy opportunities in North America, Latin America, and China. As West Hawk grows as a premier clean energy company focused on the vision of coal to steel, coal-to-gas, and coal-to-liquids, and coal-to-power, fortifying our engineering design is required. Dr. Schissler will be responsible for all disciplines of engineering including project, mining, geological, environmental, civil, mechanical, electrical, socioeconomic, and process. Dr. Schissler will report to Dr. Wm. Mark Hart, President and Chief Executive Officer.
Dr. Schissler has 33 years of international experience in coal, gas, and other minerals. He has held positions from Laborer to Vice President in mines and plants, and corporate assignments at companies including Cyprus Amax Minerals, Southern Utah Fuel Company, Consol Energy, and Stolar Research. He was also on the graduate faculty of The Pennsylvania State University in the Department of Energy and Mineral Engineering. His educational profile includes a Bachelor of Science, and Doctor of Philosophy in Mining and Earth Systems Engineering from the Colorado School of Mines. He holds an M.B.A. degree from Regis University, Denver Colorado. Dr. Schissler is a Professional Engineer in 2 states and a Certified Mine Foreman in 3 states. He is a Founding Registered Member of the Society of Mining Engineers—earned credential signifying expertise in independent mineral valuation.
Dr. Wm, Mark Hart, President and CEO offered “Dr. Schissler brings a wealth of proven engineering experience and results, and we welcome him in joining the West Hawk Team to build an energy company.” Dr. Schissler remarked “I am pleased to have the opportunity to work for our excellent team and organization that has one goal: build an energy company maximizing value to shareholders and the local communities where we reside.”
On behalf of the Board of Directors,
Dr. Wm. Mark Hart
President and Chief Executive Officer
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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 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. 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 Tulita coal property in the Northwest Territories, the Nunavut Coal property and the Groundhog 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 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.
Contacts
North America
West Hawk Development, 303-524-1424
Email: news@westhawkdevelopment.com
May 1, 2008 – Denver, Colorado, USA:
West Hawk receives exchange approval and updates Fuselier progress
West Hawk Development Corp. (“West Hawk”) (TSX.V – WHD, Frankfurt – H5N) (the “Company”) is pleased to announce that it has received the approval of the TSX Venture Exchange to proceed with the Company’s previously announced transaction on April 10, 2008, with Fuselier Holdings, LLC (“Fuselier”) of Richardson, Texas for the assignment and transfer to Fuselier of approximately US$10.6 million in outstanding trade debt, including all trade debt outstanding on its Figure Four Property in the Piceance Basin. The transfer of the debt has allowed Fuselier to begin settling all existing lien claims and actions filed by West Hawk’s creditors.
West Hawk is also pleased to report that in a successful first round of meetings between Fuselier and the Company’s creditors, settlement has been reached with several key creditors totaling US$3.8 million.
Dr. Jean R. Fuselier, Sr., President and CEO of Fuselier Holding, LLC, said that Fuselier ”has been moving swiftly since signing the definitive agreement and the creditors have been very receptive to our offers. We have met with many major creditors personally and we applaud their flexibility and patience. We will continue this series of meetings until our proposals have been extended to and understood by all creditors. An important benefit we are bringing to West Hawk is its subsequent ability to move forward with its business strategies without the encumbrance of this significant debt”.
“We are very encouraged and pleased by the results that Dr. Fuselier and his team have achieved thus far. We are confident that the positive response from creditors will continue as further discussions are concluded”, commented West Hawk’s CFO, Roger A. Baer.
On behalf of the Board of Directors,
Dr. Wm. Mark Hart
President and Chief Executive Officer
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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 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. 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 Tulita coal property in the Northwest Territories, the Nunavut Coal property and the Groundhog 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 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.
Contacts
North America
West Hawk Development, 303-524-1424
Email: news@westhawkdevelopment.com
April 30, 2008 – Denver, Colorado, USA:
Fuselier Holdings buys West Hawk’s secured term note!
West Hawk Development Corp. (“West Hawk”) (TSX.V – WHD, Frankfurt – H5N) (the “Company”) is pleased to announce that Fuselier Holdings, LLC (“Fuselier”) has reached an agreement with an affiliate of Laurus Capital (“Laurus”) to buy West Hawk’s remaining balance on its secured note in the original face amount of US$1,875,000 payable to an affiliate of Laurus Master Fund, Ltd. Under the terms of the agreement, Fuselier will obtain releases of all security interests that have been filed, and free up all assets that had been pledged by West Hawk to secure the original financing with Laurus.
Dr. Jean R. Fuselier, Sr, President & CEO of Fuselier Holdings LLC stated: “We are highly pleased to help West Hawk Development continue moving toward its positive financial objectives and improving their company position within the industry. This assignment enables West Hawk to realign themselves with the terms of their current lease agreement, resulting in an improved confidence level with the lessors and investors alike.”
Under the terms of the agreement, the note will be transferred from Laurus to Fuselier, and Laurus will no longer be a secured lender to the Company. In consideration for future terms to be finalized between Fuselier and West Hawk, Fuselier will release the Deed of Trust on the Company’s Figure Four property, release all security interests filed on the Canadian coal properties, and will obtain a release on the pledge of West Hawk’s ownership interest in West Hawk Energy (USA), LLC, which holds the Figure Four Project.
“We are extremely pleased that Fuselier has stepped in to help West Hawk obtain the release of the Deed of Trust on the Figure Four Project and free-up our coal properties. This provides the Company the ability to continue development of the Figure Four property, and the coal properties are now free and clear, which removes an obstacle to develop these assets” stated Roger A. Baer, West Hawk’s CFO. “We also wish to thank Laurus for stepping in to finance the Company last year when we needed them”.
West Hawk’s revenues from the Figure Four property will not be subject to future principal and interest payments through the 80% net monthly cash flow sweep from the Project that was imposed by the terms with Laurus. Fuselier has also bought half of the 5% overriding royalty interest in the Figure Four project, which is expected to be eliminated under new terms with West Hawk. The note with Laurus carried interest at the WSJ prime plus 4%, subject to a minimum rate of 10% and was to mature on August 22, 2008. The Company does not expect to proceed on any additional debt financing on the Project with Laurus, and they will no longer have a right of first refusal to participate in any future funding of the Project.
Terms of a new agreement with Fuselier will be subject to the approval of the TSX Venture Exchange.
On behalf of the Board of Directors,
Dr. Wm. Mark Hart
President and Chief Executive Officer
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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 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. 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 Tulita coal property in the Northwest Territories, the Nunavut Coal property and the Groundhog 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 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.
Contacts
North America
West Hawk Development, 303-524-1424
Email: news@westhawkdevelopment.com
I`m holding still all my WHD-shares for the long haul! Loaded and locked! ..added some more before the recent breakout occured!
GLTA WHD-LONGS!
hh
More and more LONGTERM-INVESTORS joining the RCCH-board! ..nice to see! WE SHOULD POP HEAVILY VERY SOON!! RCCH is WAY UNDERVALUED! IMHO
Agreed! RCCH = ONE OF THE BEST (if not THE BEST) LONGTERM-INVESTMENT(S) at PinkSheets in my opinion! GLTA RCCH-LONGS! hh
Thank you for that in advance, BRO! ..looking forward to your report!
Very nice!
RCCH #19 at MostActiveForums/IHUB! ..soon we`ll be #1 for long time, I guess!
(19. RCCH RCC Holdings Corp.)
RCCH LOOOOOOOOONNNNNNGGG!
LOADED and LOCKED! (have my sell orders placed at much, much higher levels ..between 1-5US$ per share!)
GOOO RCCH! ..SHOCK ALL TRADERS HEAVILY by an EXPLODING PPS!!!
..GLTA LONGS here!
hh
-imho-
I`ll add (AGAIN!) some more next week! ..can`t get enough by these cheapies!
I`ve updated the "G-spot" at our iBox!
ALL NEW Shares are RESTRICTED!!! Float should be the same I think! IMO! RCCH LONG!
AGAIN: I`m VERY confident with my investment here and I believe that GENE NEWTON and CLAUDE SMITH are telling us the TRUTH!!! ..hope I`m right with that! LOL
I`m here for the long haul for the next several years while adding the dips! GLTA and have a great weekend!
GO RCCH!
hh
Bid: .006 Ask: .007 (James Bond! LOL)
Agreed - MOASS for RCCH upcoming SOON!!! ..watch and see! IMO
..couldn`t write `cause I was laughing really hard, too!!! One of his best jokes ever by now! LOLOLOLOL JJ would be a good comedian!!! ROFLMAOOOO!