Hawkley Oil & Gas
Hawkley Oil & Gas - Primed for Growth

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On 4 June 2020, the Company announced that it had withdrawn its prospectus to raise funds for a proposed oil and gas acquisition in Burke County, North Dakota, USA and that it would withdraw its application for readmission to trading on the ASX.

The decision to withdraw the Propsectus was based on a number of factors, including:

  • notification from a major group of proposed investors that they will no longer support the raising;
  • the current instability in financial markets generally, and in the oil and gas sector in particular, mainly due to the impact of COVID-19 (coronavirus); and
  • the short timeframe remaining to obtain additional investment in order to complete the capital raising and ASX re-compliance before removal from the Official List.

The Company was removed from the ASX Official List at the commencement of trade on Tuesday 9 June 2020. Hawkley advises that it is in advanced discussions with another group regarding a potential new transaction to form the basis of a new application for listing on ASX as an Initial Public Offering.

 

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