Proceeds used for exploration work on the Rompas project in Finland
By Devika Patel
Knoxville, Tenn., Sept. 29 – Mawson Resources Ltd. said it has arranged a C$3.05 million non-brokered private placement of units.
The company will sell 9,242,424 units of one common share and one half-share warrant at C$0.33 per unit. The whole warrants are exercisable at C$0.50 for two years. The strike price reflects a 56.25% premium to the Sept. 26 closing share price of C$0.32.
Sentient Global Resources Fund IV, LP will buy 3,030,303 units for C$1 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.
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| Issue: | Units of one common share and one half-share warrant
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| Amount: | C$3.05 million
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| Units: | 9,242,424
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| Price: | C$0.33
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.50
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| Agent: | Non-brokered
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| Investor: | Sentient Global Resources Fund IV, LP (for C$1 million)
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| Pricing date: | Sept. 29
|
| Stock symbol: | Toronto: MAW
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| Stock price: | C$0.32 at close Sept. 26
|
| Market capitalization: | C$20.28 million
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