HAW Capital Closes Initial Public Offering

Calgary, Alberta–(Newsfile Corp. – January 8, 2021) – HAW Capital 2 Corp. (TSXV: HAW.P) (the “Company“), a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange (the “TSXV“), is pleased to announce that today it completed its initial public offering (the “Offering“) of 4,000,000 common shares (“Common Shares“) issued at a price of $0.10 per share pursuant to a prospectus dated November 12, 2020 (the “Prospectus“).

Richardson Wealth Ltd. (the “Agent“) acted as agent for the Offering and in connection therewith, the Company granted the Agent 400,000 non-transferable options entitling the Agent to acquire 400,000 Common Shares at a price of $0.10 per share until January 8, 2023. The Agent also received a cash commission equal to 10% of the gross proceeds of the Offering as well as a corporate finance fee.

The Company will use the net proceeds from the Offering to identify and evaluate assets or businesses for acquisition with a view to completing a “Qualifying Transaction” under the capital pool company program of the TSXV as disclosed in the Prospectus, which is available under the Company’s profile on SEDAR at www.sedar.com.

The board of directors of the Company consists of Scott McGregor, Marshall Mewha, Robert McCue and Jay Campbell. The officers of the Company are Scott McGregor (Chief Executive Officer), Marshall Mewha (Chief Financial Officer) and Suzanne Ferguson (Corporate Secretary).

Following the completion of the Offering, the Company has 14,000,000 Common Shares issued and outstanding, of which 10,000,000 shares have been placed in escrow. On January 6, 2020, the TSXV issued a bulletin listing the Common Shares as of market open on January 8, 2020, and immediately halting trading pending completion of closing. The Common Shares are expected to commence trading under the trading symbol “HAW.P” upon further notice from the TSXV.

Concurrent with the closing of the Offering, the Company also granted incentive stock options to its directors and officers to acquire an aggregate of 1,400,000 Common Shares as outlined in the Prospectus, each such option exercisable at a price of $0.10 per share for a period of ten years.

For further information, please contact:

Scott McGregor
Chief Executive Officer
scott@mcgregorcorp.com

The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Forward-looking statements in this news release include, but are not limited to, the anticipated use of proceeds from the Offering and the ability of the Company to complete a qualifying transaction. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

Neither 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.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71637