Proceeds used for mineral resource estimate, general working capital
By Devika Patel
Knoxville, Tenn., Dec. 2 – Mawson Resources Ltd. said it raised C$3,144,079 in its non-brokered private placement of units. The deal priced for between C$3 million and C$4 million on Oct. 22.
The company sold 15,720,393 units of one common share and one half-share warrant at C$0.20 per unit. The whole warrants are exercisable at C$0.30 for two years. The strike price reflects a 36.36% premium to the Oct. 21 closing share price of C$0.22.
Proceeds will be used to complete a mineral resource estimate and for 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$3,144,079
|
| Units: | 15,720,393
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 22
|
| Settlement date: | Dec. 2
|
| Stock symbol: | Toronto: MAW
|
| Stock price: | C$0.22 at close Oct. 21
|
| Market capitalization: | C$16.03 million
|
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