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Thursday, August 11, 2022

Hawkeye Systems Inc (OTCMKTS: HWKE) Breaking Out as Co Enters LOI to Acquire Blue Gold International Limited in Share Exchange Resulting in Reverse Takeover of Blue Gold

Hawkeye Systems Inc (OTCMKTS: HWKE) is making an explosive move up the charts after the Company announced it has entered into an LOI to acquire Blue Gold International Limited an entity valued at US $250,000,000, in a share exchange that will result in a reverse takeover of Blue Gold by Hawkeye. The shareholders of Blue Gold International Limited will hold upward of 95% of Hawkeye post-acquisition. This is in effect a reverse merger with Blue Gold International being the surviving public Company. 

Reverse merger stocks can be more explosive than biotech’s when the incoming Company has real value but is undiscovered to investors and we have covered many on the website that have gone from pennies to dollars. In support of the transaction the Company appointed Christopher Mulgrew and James Kerby to the Board of Directors of Hawkeye. During the due diligence period, Hawkeye intends to complete a 1 for 10 reverse stock split and change the company name and ticker symbol. There will be a rebranding of the Company, finalization of the go-to-market plan, recruitment of a new management team, and further modification to the board of directors. Ghana is one of the leading producers of gold in Africa and the seventh leading Gold producer in the world. 

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Hawkeye Systems Inc (OTCMKTS: HWKE) is a technology holding company which has focused on cutting edge technology, pandemic management products and services. The Company has made the decision in the current environment to become a diversified gold producer with the first asset being Blue Gold in Ghana. 

Microcapdialy has been covering HWKE for a while now reporting in February 2021: “HWKE has seen its stock price more than double on a day that the overall markets were deeply red. The stock jumped off its $0.35 base on a surge of volume and saw highs of $1.10 per share. The move on HWKE came after the Company LOI with Arizona Asian Pacific Trade and Consulting” 

HWKE is making an explosive move up the charts after the Company reported it signed an LOI to acquire Blue Gold International Limited an entity valued at US $250,000,000, in a share exchange that will result in a reverse takeover of Blue Gold by Hawkeye. The shareholders of Blue Gold International Limited will hold upward of 95% of Hawkeye post-acquisition. 

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Blue Gold is the 90% owner and operator of the Bogoso Prestea goldmine in Ghana, which contains one of the most significant gold concessions in the world-famous Ashanti gold belt. As a diversified gold mining operator looking to acquire other prospective gold properties in Africa and elsewhere, Blue Gold will leverage its significant management expertise and an increasingly robust balance sheet. 

The transaction is subject to due diligence and definitive documentation and is expected, by all parties, to close by October 31, 2022. Hawkeye and Blue Gold intend to complete a $6 million funding arrangement prior to July 31, 2022 which will be invested into Blue Gold and serve as working capital during the due diligence period. Hawkeye has conjunctively terminated all other LOI’s and discussions with alternative opportunities it has been evaluating, as previously reported, as it believes Blue Gold represents the strongest potential upside for its shareholders. 

Hawkeye Chief Executive Officer Corby Marshall commented, “Following extensive analysis, we believe transitioning our strategy to become a diversified gold producer will enable the Company to capitalize on the inflationary and rising interest rate macroeconomic trends and provide the basis for a growing sustainable business. Given the project’s location in Ghana’s historically significant gold area, the Ashanti gold belt we are confident in our ability to build significant long-term shareholder value. The project has produced approximately 12 million ounces of gold since 1912.” 

Dan Owiredu, Chief Executive Officer of Blue Gold, stated, “We are pleased to be reentering the equity capital markets with a primary listing in the US through this transaction with Hawkeye. We actively seek to leverage the equity capital markets at a time of increasing interest in gold, a combination that we believe will also create a strong platform for us to fully develop the proven sulfide resource and the significant unexplored strike.” 

In support of the transaction the Company appointed Christopher Mulgrew and James Kerby to the Board of Directors of Hawkeye. During the due diligence period, Hawkeye intends to complete a 1 for 10 reverse stock split and change the company name and ticker symbol. There will be a rebranding of the Company, finalization of the go-to-market plan, recruitment of a new management team, and further modification to the board of directors. 

Blue International Holdings formed Blue Gold International in 2020 as a platform to acquire high quality long-term mining assets in sub Saharan Africa.  In October 2020 it acquired the gold producing Bogoso Prestea Gold Mine in the Ashanti gold belt in Ghana. Blue Gold owns 90% of the project, with the Government of Ghana holding the remaining 10% interest. Bogoso Prestea has the largest mining concessions (of any mineral) in Ghana, with an 82 kilometre gold strike within the Ashanti gold belt (one of the most prolific gold regions globally).  The Bogoso Prestea concession has 3.3m oz of proven gold reserves and production is expected to reach 70,000 oz in 2022.  Operational and financial performance has improved significantly under Blue Gold ownership. Blue Gold will be seeking to acquire and develop further gold producing assets over the coming years, with a view to a successful stock market listing. 

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Currently trading at a market valuation of less than $1 million USD HWKE has 25,604,148 shares outstanding, 16,250,210 of which are restricted leaving 9,353,938 free trading shares. The Company is an SEC filer and fully reporting OTCQB with $1.6 million in liabilities on the books and the perfect reverse merger candidate. The stock is up big after the Company entered into an LOI to acquire Blue Gold International Limited an entity valued at US $250,000,000, in a share exchange that will result in a reverse takeover of Blue Gold by Hawkeye. The shareholders of Blue Gold International Limited will hold upward of 95% of Hawkeye post-acquisition. This is in effect a reverse merger with Blue Gold International being the surviving public Company. Ghana is one of the leading producers of gold in Africa and the seventh leading gold producer in the world.  We will be updating on HWKE when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with HWKE.

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Disclosure: we hold no position in HWKE either long or short and we have not been compensated for this article.

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