VANCOUVER, April 30 /CNW/ - Mawson Resources Limited ("Mawson") TSX - MAW; Frankfurt - MRY. Mr Michael Hudson, President & CEO, is pleased to announce that Areva NC ("Areva"), one of the world's largest integrated nuclear companies, and Mawson have signed a set of agreements through various 100%-owned local subsidiaries that entitle:
- Mawson to acquire 100% of Areva's Finnish uranium exploration
portfolio, as well as Areva's Finnish uranium exploration database
developed over 10 years of exploring in the country. As consideration
Mawson will pay Areva (euro)1 million.
- Areva to subscribe, via a private placement, for 4,696,698 million
common shares at a price of $0.29 in Mawson for a total purchase
price (euro)1 million. Fifty percent of the shares from the private
placement will remain in voluntary escrow until the final granting of
certain claim applications.
- Areva to receive in conjunction with the private placement 4,217,012
purchase warrants that are exercisable for four years after Closing
to purchase an equivalent number of common shares of the Company for
$1.00 per share.
Mr Hudson states, "This transaction effectively doubles Mawson's exploration portfolio and cements Mawson's place as a key European uranium explorer. We welcome Areva, one of the world's key integrated nuclear companies, as one of the Company's largest shareholders. Areva will hold, post-closing, 11% of Mawson and will hold the right to increase its shareholding by up to an additional 8% of Mawson's issued capital via the exercise of the purchase warrants. Additionally, Areva's potential to increase their shareholding at a significant premium to the current share price is a strong vote of confidence in Mawson's Swedish and Finnish uranium portfolio and the Company's business strategy to fuel Europe's future."
The transaction involves three exploration areas secured by claims or claim applications in Finland that total approximately 16,156 hectares. The Riutta granted claims are located in south eastern Finland and comprise 10 claims for approximately 790 hectares. This area is considered prospective for unconformity-style uranium deposits. The Rompas/Rumavuoma claims are located in north central Finland and comprise 123 claim applications for approximately 11,872 hectares and are considered to be prospective for vein-style, structurally-hosted hydrothermal uranium deposits. The Asento claims, located near to the Rompas area, consist of 37 claim applications for approximately 3,556 hectares and are considered to be prospective for vein-style, structurally-hosted hydrothermal uranium deposits hosted within Archaen granites.
A data swap between Areva and Mawson was executed at signing and detailed project information is currently being compiled and will be released to the market, in a timely manner, as it becomes available. The transaction is subject to acceptance by the TSX of the Company's filing documents.
On behalf of the Board,
Michael Hudson, President & CEO
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 the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company 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.
SOURCE Mawson Resources Ltd.
For further information: For further information: Investor Information: www.mawsonresources.com, 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, Email: firstname.lastname@example.org