1. Greenhawk terminated a joint venture due to non-payment of C$100,000. 2. The company still evaluates strategic alternatives for Greenland assets. 3. An engineering report update is planned before year-end.
Termination indicates a knee-jerk reaction to missed commitments. However, no immediate alternative partnerships were highlighted that could enhance growth or potential output.
The termination signals risk but does not change the firm's long-term asset value. The strategic evaluation could lead to better opportunities in the future.
The immediate impact is negative due to the cancellation and uncertainty, while future opportunities need to be clarified.
TORONTO, Oct. 10, 2025 (GLOBE NEWSWIRE) -- Greenhawk Resources Inc. ("Greenhawk" or the "Company") (CSE:GRHK) announces that it has terminated the arm's length Option and Joint Venture Agreement dated May 21, 2025 (the "Agreement") with 1531323 BC Ltd. ("1531323 BC") regarding the Company's Greenland properties.
Under the terms of the Agreement, 1531323 BC was required to make a cash payment of C$100,000 within 90 days. As this payment was not made, the Company has exercised its right to cancel the Agreement.
The Company continues to evaluate strategic alternatives for its Greenland assets and intends to update its engineering report before year end.
About Greenhawk Resources Inc.
Greenhawk is a Canadian resources exploration and development company. Greenhawk owns a 100% legal and beneficial interest in two mineral exploration licenses and one prospecting license in Greenland known as the Storø Gold Project. Additional Information on Greenhawk can be obtained from SEDAR+ at sedarplus.ca. Greenhawk is listed on the Canadian Securities Exchange (www.thecse.com) (CSE:GRHK).
Issued on behalf of the Board of Directors of Greenhawk Resources Inc. For information, please contact:
David Jagodzinski, Director Corporate Development
Phone: +1 (416) 504-2020
Email: info@grhk.ca
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Cautionary Note Regarding Forward-Looking Information
This press release contains statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Forward-looking information includes, but is not limited to, statements regarding the Company's plans to update its engineering report and evaluate strategic alternatives for its Greenland assets. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking information. There can be no assurance that such information will prove to be accurate, and readers are cautioned not to place undue reliance on forward-looking information. The Company disclaims any obligation to update or revise any forward-looking information, except as required by applicable law.
