** Shares of Hawk Resources HWK.AX rise as much as 164.7% at A$0.045, their highest level since September 30, 2024

** The critical and precious metal exploration company receives firm commitments to raise A$5 million ($3.23 million) via placement

** Issue price of A$0.02 per share represents a 17.6% premium to stock's last close

** Funds raised will be used for completion of acquisition of the Olympus Scandium Project in Western Australia

** Additionally, HWK executes binding agreement with Opal Resources to acquire an option to earn up to 80% of the Olympus scandium project

** About 36.2 million shares change hands, 62.5x the 30-day average volume

** Stock currently up 105.9%, bringing YTD gains to 59.1%

($1 = 1.5470 Australian dollars)

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))