Blackhawk Announces Asset Sale
June 03 2014 - 8:01AM
Marketwired
Blackhawk Announces Asset Sale
CALGARY, ALBERTA--(Marketwired - Jun 3, 2014) - Blackhawk
Resource Corp. ("Blackhawk" or the "Corporation") (TSX-VENTURE:BLR)
is pleased to announce that it has disposed of a number of its
operated oil and gas properties for cash proceeds of $380,000 and
an overriding royalty ("GORR") on the properties.
As part of the Corporation's continued focus as in investment
issuer, effective June 1, 2014, Blackhawk has completed the sale of
a number of its operated oil and gas properties to an arm's length
private company. This increase in investable capital along with the
retention of a GORR, on the largest producing well and the
undeveloped lands, better suits Blackhawk's business focus. With
the transition to an investment issuer, Blackhawk feels that
holding royalties, with their positive cash flow, but no recourse
for additional capital costs is accretive to the shareholders.
Blackhawk continues to invest its capital in multiple companies
across a variety of sectors within North America. Blackhawk strives
to continue to increase its investable capital and grow by
investing in equity and debt instruments of companies and
generating positive returns for shareholders.
Additional information is available on our website at
www.blackhawkcorp.ca.
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.
Blackhawk Resource Corp.Dave AntonyCEO(403)
531-1710dantony@blackhawkcorp.cawww.blackhawkcorp.ca
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