The takeover offer from Kinterra Capital has successfully completed, divesting Hawke’s Point from its holding in Cannon Resources. The all-cash offer of $0.45 per share represented a 43% premium to Cannon’s last closing price, and a 58% premium to the 30-day VWAP.

Hawke’s Point believes the offer represents an excellent opportunity to maximize value for its investment by selling the assets to Kinterra who has stated its intention to bring Fisher East into production on an accelerated basis.