Mawson Announces $4.2 Million Private Placement Financing
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Vancouver, Canada - Mawson Resources Limited ("Mawson") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces a non-brokered private placement financing of up to 9.333 million units at $0.45 per unit for gross proceeds of up to $4,200,000. Each unit will consist of one common share of Mawson and one-half of one non-transferable common share purchase warrant. Each whole warrant will be exercisable to acquire one additional common share of Mawson at $0.65 for a period of two years from the date of closing of the private placement.
Mr. Hudson states, "That Mawson has received demonstrable interest to fund Mawson during these challenging times is a clear validation of the potential of the Rompas gold-uranium project. This funding will ensure we can continue to build our business in the Nordic countries around Rompas, maintain our exploration momentum and focus on shareholder interests by continuing to control overheads and investing their capital in the ground."
The financing is anticipated to include insider participation (the "Insider Placement"). Pursuant to the policies of the Toronto Stock Exchange (the "TSX") shareholder approval will be required for the portion of the Insider Placement which exceeds 10% of Mawson's currently issued share capital. Mawson intends to hold a special meeting of shareholders on August 30, 2013, to obtain such shareholder approval, if required.
The net proceeds from the financing will be used to advance exploration work on the Mawson's Rompas project in Finland and for general working capital purposes.
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 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.