Mawson Resources Ltd (TSX: MAW) has launched a $3.05 million private placement financing to support advanced exploration work on its Rompas-Rajapalot gold project in Finland. The Sentient Group, a resources-focused private equity firm based in the Cayman Islands and with an office in Montréal, will account for $1 million of the transaction. Mawson Resources, which is based in Vancouver, has been a portfolio company of Sentient since 2010.
Mawson announces $3.05 million private placement financing
VANCOUVER, Sept. 29, 2014 /CNW/ – Mawson Resources Limited (“Mawson”) (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces a non-brokered private placement financing of up to 9,242,424 units at $0.33 per unit for gross proceeds of up to $3,050,000. 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 $0.50 for a period of two years from the date of closing of the private placement.
The net proceeds from the financing 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, will subscribe for 3,030,303 Units under the Placement for gross proceeds of $1,000,000.
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 TSX.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)
Mawson Resources Limited is an exploration and development company. Mawson has distinguished itself as a leading Scandinavian exploration company with a focus on the flagship Rompas and Rajapalot gold projects in Finland.
The qualified person for Mawson’s Finnish projects, Mr. Michael Hudson, President & CEO for Mawson and Fellow of the Australasian Institute of Mining Metallurgy has reviewed and verified the contents of this release.
On behalf of the Board,
Michael Hudson, President & CEO
Forward Looking Statement
This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, “forward-looking statements”). All statements herein, other than statements of historical fact, including statements regarding anticipated exploration activities and the intended financing are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, capital and other costs varying significantly from estimates, equipment failure, unexpected geological conditions, permitting, operational delays, environmental and safety risks, and other risks and uncertainties disclosed under the heading “Risk Factors” in Mawson’s most recent Annual Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
SOURCE Mawson Resources Ltd.
For further information: Investor Information: www.mawsonresources.com, 1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7; Seema Sindwani +1 647-478-3017; Mariana Bermudez +1 604-685-9316, Email: email@example.com
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