Proceeds used for exploration work on the Rompas project in Finland
By Devika Patel
Knoxville, Tenn., Sept. 9 - Mawson Resources Ltd. said it raised C$1.64 million in the second and final tranche of a non-brokered private placement of units. The deal, which priced July 17, was increased to C$4.21 million from C$4.2 million due to oversubscription of the first tranche, which settled for C$2.57 million on Aug. 6.
The company sold 9,344,417 units of one common share and one half-share warrant at C$0.45 per unit. It sold 5,710,417 units in the first tranche and 3,634,000 units in the second tranche.
The whole warrants are exercisable at C$0.65 until Sept. 9, 2015. The strike price reflects a 62.5% premium to the July 16 closing share price of C$0.40.
Sentient Global Resources Fund IV, LP invested C$3.3 million.
Proceeds will be used for exploration work on Mawson's Rompas project in Finland and general working capital purposes.
Mawson is a Vancouver, B.C.-based gold exploration company.
| Issuer: | Mawson Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$4,204,988
|
| Units: | 9,344,417
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Sept. 9, 2015
|
| Warrant strike price: | C$0.65
|
| Agent: | Non-brokered
|
| Investor: | Sentient Global Resources Fund IV, LP (for C$3,300,300)
|
| Pricing date: | July 17
|
| Upsized: | Aug. 6
|
| Settlement date: | Aug. 6 (for C$2,569,688), Sept. 9 (for C$1,635,300)
|
| Stock symbol: | Toronto: MAW
|
| Stock price: | C$0.40 at close July 16
|
| Market capitalization: | C$26.64 million
|
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