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VANCOUVER, Feb. 14, 2018 /CNW/ - Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS:MWSNF) announces that further to the Company's news release of February 7, 2018, the Company's private placement financing (the "Placement") has closed. The Company has issued to Goldcorp Inc. (TSX:G; NYSE:GG) ("Goldcorp") 18,000,000 units (the "Units") at a price of C$0.45 per Unit ("the "Issue Price") for gross proceeds of C$8,100,000. Each Unit is comprised of one common share and one half of one common share purchase warrant, with each whole warrant (a "Warrant") exercisable to acquire one additional common share at a price of C$0.65 per common share until February 14, 2020. As a result, Goldcorp has become a new shareholder of the Company holding approximately 12.7% of the issued and outstanding share capital of Mawson and 17.9% on a partially diluted basis, assuming full exercise of the Goldcorp Warrants.
In addition, pursuant to the exercise of pre-existing participation rights by an existing shareholder of Mawson, the Company has also issued 1,000,000 Units at the Issue Price for additional gross proceeds of C$450,000.
The securities issued under the Placement are subject to a four-month hold period expiring on June 15, 2018.
Michael Hudson, Chairman & CEO of Mawson commented, "Goldcorp's participation in Mawson is a great validation of both our Finnish projects and our technical team and we look forward to a mutually long and successful relationship. We continue to aggressively explore our district-scale Rajapalot-Rompas gold project and look forward to drill results starting to flow from our winter program over the coming weeks."
The Company plans to use the net proceeds of the Placement to explore its mineral properties located in Finland and for corporate general and administrative expenses.
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" Michael Hudson, Chairman & CEO
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: 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, proposed use of the net proceeds of the Placement, maintaining relationships with significant shareholders, capital and other costs varying significantly from estimates, 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.
For further information: www.mawsonresources.com, 1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7, Mariana Bermudez (Canada), Corporate Secretary, +1 (604) 685 9316, [email protected]