Proceeds used for exploration work on the Rompas project in Finland
By Devika Patel
Knoxville, Tenn., Oct. 14 – Mawson Resources Ltd. said it completed a C$3.01 million non-brokered private placement of units. The deal priced for C$3.05 million on Sept. 29.
The company sold 9,124,243 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 bought 3,030,303 units for C$1 million.
Proceeds will be used for exploration work on Mawson’s Rompas project in Finland and for 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$3,011,000
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Units: | 9,124,243
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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
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Settlement date: | Oct. 14
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Stock symbol: | Toronto: MAW
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Stock price: | C$0.32 at close Sept. 26
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Market capitalization: | C$17.99 million
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