======================================================================
Amendment To Remac Financing And Plan Of Arrangement
======================================================================
Redhawk Resources, Inc. ("Redhawk") and OMC Capital Corporation ("OMC")
announce, further to their joint news releases dated November 22, 2006,
December 18, 2006 and April 5, 2006, the terms of the previously
announced non-brokered private placement of non-flow-through securities
of ReMac Zinc Corp. ("ReMac") have been amended to include a half
warrant. ReMac now proposes to issue up to 4,625,385 non-flow through
warrants (the "ReMac Warrants") to raise gross proceeds of up to
$3,000,000. Each ReMac Warrant will be exercisable to acquire, for no
additional consideration, one unit, with each unit being comprised of
one common share of ReMac and one-half of one underlying share purchase
warrant, with each whole underlying warrant being exercisable to
acquire one additional common share of ReMac at a price of $0.75 for a
period of 12 months. The previously planned ReMac Warrants were
structured to be exercisable to acquire only common shares of ReMac
without any warrant.
Pursuant to the terms of the plan of arrangement involving Redhawk,
ReMac and OMC, the ReMac Warrants will be exchanged for warrants of OMC
(the "OMC Warrants") and each OMC Warrant will be exercisable to
acquire one common share and one-half of one underlying share purchase
warrant of OMC, having the same terms as the underlying warrants of
ReMac. The plan of arrangement has been amended to reflect this change
in the underlying securities to be issued by OMC upon completion of the
plan of arrangement. The amended plan of arrangement is subject to
court approval.
Completion of the Proposed Qualifying Transaction is subject to a
number of conditions, including but not limited to, Exchange
acceptance. There can be no assurance that the Proposed Qualifying
Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management
information circular or filing statement to be prepared in connection
with the Proposed Qualifying Transaction, any information released or
received with respect to the Transaction may not be accurate or
complete and should not be relied upon. Trading in the securities of a
capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of
the Proposed Qualifying Transaction and has neither approved nor
disapproved the contents of this press release.
This news release may contain certain forward-looking statements that
reflect the current views and/or expectations of Redhawk Resources,
Inc. or OMC Capital Corporation with respect to its respective
performance, business and future events. Such statements are subject
to a number of risks, uncertainties and assumptions. Actual results
and events may vary for a variety of reasons.
For further information please contact:
Redhawk Resources, Inc
Charles Pitcher, Chairman
Tel: (604) 633-5088
OMC Capital Corporation
Darryl J. Yea, President
Tel: (604) 699-2458
email: darryl.yea@investco.ca
======================================================================
Copyright (c) 2007 REDHAWK RESOURCES INC. (RDK) All rights reserved.
For more information visit our website at
http://www.redhawkresources.com/ or send
mailto:inquiries@redhawkresources.com
======================================================================
.