Wildsky Res Inc (HWTHF)

[rmarc]

Hawthorne Gold Corp.: Update on Private Placement With Skyocean

VANCOUVER, BRITISH COLUMBIA, Feb 2, 2011 (Marketwire via COMTEX) -- Hawthorne Gold Corp. ("Hawthorne" or the "Company") (TSX VENTURE:HGC)(PINK SHEETS:HWTHF) Further to the Company's news release of January 6, 2011, the Company anticipates final closing of the Private Placement with Skyocean Ventures Investment Fund ("Skyocean") to close in February 2011. Funding of the Private Placement by Skyocean is subject to a number of regulatory approvals, including applicable Chinese government approvals for the transfer of funds from China to Canada. To date, Skyocean has received final approval of the Beijing Commercial and Trade Bureau and has applied for registration of the transaction with the Beijing Foreign Exchange Administration. Although registration has been delayed due to extended government office closure during the Chinese New Year holiday period, such registration is expected shortly.