Early Warning Report
Trading Symbol: TSX-V HGC
NEWS RELEASE
VANCOUVER – Skyocean Venture Investment Limited (“Skyocean”) announces that on March 23, 2011, it acquired 68,181,818 common shares (the “Shares”) in the capital of Hawthorne Gold Corp. (“Hawthorne”) at $0.11 per Share (the “Offering”). The Offering resulted in Skyocean holding 35.91% of Hawthorne’s current issued and outstanding share capital.
An Early Warning Report respecting this acquisition has been filed on the System for Electronic Document Analysis and Review (SEDAR) and can be viewed at www.sedar.com.
Skyocean is an affiliated entity (as such term is defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions) of China Mineral Holdings Limited (“CMH”). CMH is the legal and beneficial owner of 15,772,681 Shares (representing a total of 8.31% of the outstanding Shares on an undiluted basis) and holds 7,169,400 common share purchase warrants entitling CMH to purchase a further 7,169,400 Shares at an exercise price of $0.39 per Share until October 19, 2011. Skyocean together with CMH hold a total of 83,954,499 Shares representing a total of 44.22% of the outstanding Shares on an undiluted basis.
Skyocean acquired the Shares for investment purposes only. The investment will be reviewed on continual basis and Skyocean’s holdings may be increased or decreased in the future, depending upon economic or market conditions, or matters relating to Hawthorne.
For further information please contact:
Skyocean Venture Investment Limited A 1208 Xin Zhongguan Building 19 Zhongguancun Street Haidian District
Beijing 100080 China Tel: (+86) 13811117888