Fuselier Holding, LLC Announces Successful Meetings with West Hawk Development Creditors
Friday May 2, 5:00 am ET
RICHARDSON, Texas and DENVER, May 2 /PRNewswire/ -- Fuselier Holding, LLC, Richardson, Texas, announced today that, in a successful first round of meetings with creditors of West Hawk Development Corp. (TSXV: WHD; Frankfurt: H5N), settlement has been reached with several key creditors totaling $3.8 million. The objective of the meetings are to clear West Hawk's trade debt and subsequent creditor meetings are scheduled soon.
Dr. Jean R. Fuselier, Sr., President and CEO of Fuselier Holding, LLC, said that Fuselier "has been moving swiftly since signing the definitive agreement and the creditors have been very receptive to our offers. We have met with many major creditors personally and we applaud their flexibility and patience. We will continue this series of meetings until our proposals have been extended to and understood by all creditors."
Fuselier announced on April 14th a definitive agreement to transfer and assign to Fuselier approximately (U.S.)$10.6 million in outstanding trade debt, including all the debt outstanding for its natural gas property being developed in Colorado. "The important benefit we are bringing to West Hawk is its subsequent ability to move forward with its business strategies without the encumbrance of this significant debt.
About West Hawk Development: West Hawk Development Corp. is focused on providing valuable, high-demand energy products from a variety of sources. Assets include the Figure Four natural gas property located in the Piceance Basin, Colorado, being developed under a drilling and development agreement; the Groundhog coal property located in northwest British Columbia; the Tulita coal property located in the Northwest Territories; and the Ellesmere Island, Nunavut Territory coal property.
About Fuselier Holding, LLC: Fuselier Holding provides equity financing to publicly traded companies. By tailoring innovative, strategic financial solutions for each client, Fuselier implements an appropriate investment structure which allows the client to focus on its company fundamentals. Fuselier takes a synergistic approach which not only builds an ongoing relationship with their clients, but allows for overall growth and improvement in the company, the community, and the national economy. Visit http://www.fhhelp.com for more information.
Contact:
Lisa Price 972/713-9815
lisap@fhhelp.com
Source: Fuselier Holding, LLC
