Mawson Resources Increases Private Placement Due to Oversubscription
Vancouver, Canada -- Mawson Resources Limited (the "Company" or "Mawson") TSXv -- MAW. Further to the Company's press release of August 30, 2005 respecting the Company's proposed non-brokered private placement, the Company is pleased to announce that due to a strong demand from local and international individual and institutional investors, the Company's private placement has been oversubscribed, and, therefore, the Company's private placement has now been increased from 3,000,000 units to 6,000,000 units, at a price of $0.40 per unit, for gross proceeds of $2,400,000.
Each unit consists of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at a price of $0.50 per common shares. The warrants have been extended from a one-year period to a two-year period. All other terms of the private placement remain as originally announced.
The private placement is subject to approval by the TSX Venture Exchange.
On behalf of the Board,
Michael Hudson, President & CEO
1305 -- 1090 West Georgia St., Vancouver, BC, V6E 3V7
Company Contact: Mariana Bermudez (604) 685 9316
Investor Relation Consultants - Mining Interactive
Nick Nicolaas (604) 657 4058, Wayne Melvin (604) 619 6327
Forward Looking Statement.
This news release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Neither the TSX Venture Exchange nor the Frankfurt Deutsche Börse have reviewed the information contained herein and, therefore, do not accept responsibility for the adequacy or accuracy of this news release.