Mawson Announces Closing of Second Tranche of its $4.2 Million Non-Brokered Private Placement
Vancouver, Canada - Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces the closing of the second and final tranche of the non-brokered private placement financing (the "Second Tranche") previously announced by the Company (See news releases July 17, August 6 and September 3, 2013).
Under the Second Tranche, Sentient Global Resources Fund IV, L.P. (the "Sentient Fund"), part of a group of funds which is an insider of Mawson (the "Sentient Group"), was issued 3,634,000 Units for gross proceeds of $1,635,300. Each Unit consists of one common share of Mawson and one-half of one non-transferable common share purchase warrant (the "Warrants"). Each whole Warrant is exercisable to acquire one additional common share of Mawson at a price of $0.65 until September 9, 2015.
Following closing of the Second Tranche, the Sentient Group holds approximately 35.05% of the issued and outstanding common shares of Mawson on a partially diluted basis (taking into account the full exercise of the warrants issued to the Sentient Fund).
The securities issued under the Second Tranche are subject to a four-month hold period expiring on January 10, 2014.
The net proceeds from the financing will be used to advance exploration work on Mawson's projects in Finland and for general working capital purposes.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)
Mawson Resources Limited is a resource acquisition and development company. Mawson has distinguished itself as a leading Scandinavian exploration company with a focus on the flagship Rompas gold project in Finland.
On behalf of the Board,
Michael Hudson, President & CEO
1305 -- 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez/Donna Werbes +1 (604) 685 9316
Seema Sindwani +1 647-478-3017
Forward Looking Statement
The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in Mawson's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. Mawson does not assume the obligation to update any forward-looking statement. The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.