Cavallino Investment Corp.

April 01, 2010 19:09 ET

Cavallino Investment Corp Initiates Dissident Shareholders' Proceedings Against Hawkeye Gold & Diamond Inc.

EDMONTON, ALBERTA--(Marketwire - April 1, 2010) - Cavallino Investment Corp. ("Cavallino", or "CIC" or the "Dissident") and certain other dissatisfied shareholders of Hawkeye Gold & Diamond Inc. ("Hawkeye" or "HGO") have initiated Dissident Shareholder proceedings against Hawkeye with the sole purpose of nominating three directors of their choice for election to Hawkeye's board of directors. Cavallino and these other shareholders, comprising the Dissident Shareholders, collectively own in excess of 6.5% of the issued and outstanding shares of Hawkeye.

The action is a result of the failure of Hawkeye to carry out certain undertakings provided to the Dissident Shareholders in advance of their participation in a Hawkeye financing in the late fall of 2009 and the consequent erosion of shareholder value.

Cavallino will provide information on the dissident action as developments occur.

About Cavallino

Cavallino Investment Corp is a private merchant banking company headquartered in Edmonton, Alberta which focuses on high impact early stage resource exploration equity financings and high yield debt project development financings.

Contact Information

  • Cavallino Investment Corp.
    Giuliano Tamburrino
    780-722-4663 or 403-875-3358