Hawkstone to spin-out High grade gold and gold-copper projects in usa

Hawkstone Mining

Highlights

  • Hawkstone to become a dedicated lithium company with all focus on the Big Sandy
    Sedimentary Lithium Project in Arizona.
  • Hawkstone to change its name to Arizona Lithium to reflect this shift in strategic direction.
  • Hawkstone to spin-out its portfolio of gold and gold-copper projects to form a separate listed
    company, Diablo Resources Limited (Diablo).
  • As part of the spin-out, Hawkstone will divest and sell its interest to Diablo in the Devil’s
    Canyon Gold-Copper Project in Nevada, Western Desert Gold-Copper Project in Utah, and the
    Lone Pine Gold Project including the King Solomon Mine in Idaho.
  • As part of the spin-out, Hawkstone will receive 40,000,000 vendor shares, which upon the
    successful ASX listing of Diablo, will be distributed by way of an in-specie pro rata distribution
    to existing shareholders of Hawkstone.
  • Hawkstone shareholders will also have the right to participate in a $3.5 million priority offer in
    the ASX listing of Diablo, providing an opportunity
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