April 5, 2010 (FinancialWire) — Cavallino Investment Corp., along with other dissatisfied shareholders of Hawkeye Gold & Diamond Inc. (TSX Venture: HGO), has initiated Dissident Shareholder proceedings against Hawkeye with the sole purpose of nominating three directors of their choice for election to Hawkeye's board of directors.

Cavallino and these other shareholders, comprising the Dissident Shareholders, collectively own in excess of 6.5% of the issued and outstanding shares of Hawkeye.

Cavallino said the action is a result of the failure of Hawkeye to carry out certain undertakings provided to the Dissident Shareholders in advance of their participation in a Hawkeye financing in the late fall of 2009 and the consequent erosion of shareholder value.

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