• Firm commitments for $3.0 million Placement from Australian Institutional and High Net Worth investors
• $1.97 million Non-Renounceable Entitlement Offer (1 for 8) at $0.03 per share with free attaching options
• Additional Top-Up Placement for up to $900,000 with firm commitments

Hawk Resources Limited (ASX:HWK) announced a capital raising of up to $5.87 million through a Placement, Non-Renounceable Entitlement Offer, and Additional Top-Up Placement. The Placement raised $3.0 million from Australian Institutional and High Net Worth investors at $0.03 per share, with one free attaching option for every two shares issued. The Entitlement Offer is a 1 for 8 non-renounceable offer to raise up to $1.97 million, also at $0.03 per share with one free attaching option for every two new shares. Additionally, the Company has received firm commitments for a Top-Up Placement of up to $900,000 on the same terms as the Placement and Entitlement Offer. The funds raised will be used to advance exploration activities at the Olympus Scandium project in Western Australia, the Cactus Copper project in Utah, USA, and the recently acquired Meerkat Copper project in Arizona, USA. Specifically, the funds will be used for initial soil sampling, follow-up sampling, and initial drilling at Olympus, continued drilling of near-surface copper mineralization at Cactus, and initial surface exploration at Meerkat.