West Hawk Development Corp.
TSX VENTURE : WHD

West Hawk Development Corp.

February 19, 2009 16:58 ET

West Hawk Company Update

DENVER, COLORADO--(Marketwire - Feb. 19, 2009) - West Hawk Development Corp. (TSX VENTURE:WHD) (the "Company") would like to announce that West Hawk Energy (USA), LLC., (WHE), has hired the law firm of Brownstein, Hyatt, Farber, Schreck as specialists for West Hawk Energy (USA), LLC., reorganization plan. WHE management interviewed 3 firms prior to selecting this firm. West Hawk Energy has also hired Chiron Financial Advisors. Chiron will be working along with West Hawk Energy and Brownstein, Hyatt, Farber, Schreck in order to secure financing as part of the reorganization plan.

The Company is still anxiously awaiting the arrival of the equity contribution from Lu'an Mining Group. Lu'an approved the equity contribution during 2008. Dr. Jinsheng Chen, President and CEO of Asian Operations, has been working diligently on securing this equity contribution since the time of its approval. Lu'an has stated that the regulatory process and the worldwide financial crisis are responsible for the delay.

The Company has signed a consulting agreement with Roger A. Baer. Mr. Baer will be providing the Company with accounting assistance. The Company has also hired "two degrees", consulting firm, to perform accounting services and Sierra Capital, LLC., to assist in providing financial advice for the Company.

"Though the Company continues to face challenges in light of the current worldwide financial crisis, the Company is working diligently to get through this extraordinary situation," said Gonzalo Torres Macchiavello, President and Chief Executive Officer, West Hawk Development Corp.

On behalf of the Board of Directors,

Gonzalo Torres Macchiavello, President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this 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 and the Groundhog coal property located in northwest British Columbia.

Cautionary Note: This news release 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 the Groundhog coal property in British Columbia. 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 and development 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.

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.

Contact Information

  • West Hawk Development Corp.
    Gonzalo Torres Macchiavello
    President and Chief Executive Officer
    1-800-830-0988
    Website: www.westhawkdevelopment.com