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Mawson Resources (TSX:MAW) has announced a non-brokered private placement financing of up to 15 million units for $0.40 per share for gross proceeds of up to $6 million. As quoted in the press release: Each unit will consist of one common share of Mawson and one-half of one common share purchase warrant. Each whole warrant …
Mawson Resources (TSX:MAW) has announced a non-brokered private placement financing of up to 15 million units for $0.40 per share for gross proceeds of up to $6 million.
As quoted in the press release:
Each unit will consist of one common share of Mawson and one-half of one common share purchase warrant. Each whole warrant will be exercisable to acquire one additional common share of Mawson at $0.60 for a period of two years from the date of closing of the Private Placement.
The net proceeds from the Private Placement will be used to advance exploration work on Mawson’s Rompas-Rajapalot project in Finland and for general working capital purposes.
Sentient Global Resources Fund IV, L.P., an insider of Mawson, has conditionally indicated its intention to participate in the Private Placement by purchasing up to 5,378,066 units under the Private Placement for gross proceeds of up to $2,151,227, subject to board approval.
The securities issued under the Private Placement will be subject to a four-month hold period from the date of closing. The closing of the Private Placement is subject to, among other things, acceptance from the Toronto Stock Exchange.