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VANCOUVER, Nov. 14, 2016 /CNW/ - Mawson Resources Limited ("Mawson") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces a non-brokered private placement financing of up to 15,000,000 units at $0.40 per unit for gross proceeds of up to $6,000,000 (the "Private Placement"). Each unit will consist of one common share of Mawson and one-half of one common share purchase warrant. Each whole warrant will be exercisable to acquire one additional common share of Mawson at $0.60 for a period of two years from the date of closing of the Private Placement.
The net proceeds from the Private Placement will be used to advance exploration work on Mawson's Rompas-Rajapalot project in Finland and for general working capital purposes.
Sentient Global Resources Fund IV, L.P., an insider of Mawson, has conditionally indicated its intention to participate in the Private Placement by purchasing up to 5,378,066 units under the Private Placement for gross proceeds of up to $2,151,227, subject to board approval.
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 Toronto Stock Exchange.
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 an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rompas and Rajapalot gold projects in Finland.
On behalf of the Board,
Michael Hudson, CEO & Chairman
This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: aim, believe, expect, anticipate, intend, estimate, postulate, and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, capital and other costs varying significantly from estimates, the closing of the Private Placement, changes in world metal markets, changes in equity markets, planned drill programs and results varying from expectations, delays in obtaining results, equipment failure, unexpected geological conditions, local community relations, dealings with non-governmental organizations, delays in operations due to permit grants, environmental and safety risks, and other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson's most recent Annual Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
SOURCE Mawson Resources Ltd.
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For further information: www.mawsonresources.com, 1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7, Mariana Bermudez, Corporate Secretary, +1 (604) 685 9316, firstname.lastname@example.org