Mawson closes $8 million private placement financing
VANCOUVER, Feb. 6 - Mawson Resources Limited ("Mawson") TSXv - MAW; Frankfurt - MRY. Mr Michael Hudson, President & CEO, is pleased to announce that the Company has closed its non-brokered private placement financing of 4,000,000 units at $2.00 per unit.
Each unit consists of one common share and one half warrant. Each whole warrant entitles the holder to acquire an additional common share at a price of $2.75 up to and including February 6, 2008. The share purchase warrants issued are subject to a forced conversion which is effective once the shares trade on a weighted average price of $3.50 per share for 20 consecutive trading days. The expiry date of the warrants will then be 30 days from the date of issue of a news release announcing the forced conversion. The Company has paid $497,500 as finder's fee on a portion of the private placement. All of the securities issued have a four month hold period expiring June 7, 2007.
The net proceeds from the private placement will be used for exploration expenses on the Company's projects in Sweden, Finland and Spain and for general working capital.
On behalf of the Board,
Michael Hudson, President & CEO
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 Bvrse have reviewed the information contained herein and, therefore, do not accept responsibility for the adequacy or accuracy of this news release.