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Mawson Announces C$17m Public Offering of Units
VANCOUVER, BC / ACCESSWIRE / May 11, 2020 / Mawson Resources Limited ("Mawson" or the ...
About this update from Southern Cross Gold Consolidated Ltd.
[{"type":"text","content":"Mawson Announces C$17m Public Offering of UnitsVANCOUVER, BC / ACCESSWIRE / May 11, 2020 / Mawson Resources Limited (\"Mawson\" or the \"Company\") (TSX:MAW)(Frankfurt:MXR)(OTC PINK:MWSNF) announced today that further to its press release dated May 7, 2020, it has filed a prospectus supplement (the \"Supplement\") to its short form base shelf prospectus dated March 13, 2020 (the \"Base Shelf Prospectus\") relating to its previously announced public offering (the \"Offering\"). The Supplement was filed with the securities regulatory authorities in each of the Provinces of British Columbia, Alberta and Ontario. Copies of the Base Shelf Prospectus and the Supplement are available under the Company's profile on SEDAR at www.sedar.com.As set forth in the Supplement, the Company has entered into an agency agreement with Red Cloud Securities Inc. and Sprott Capital Partners LP, the co-lead agents, and Canaccord Genuity Corp. and Eight Capital (collectively, the \"Agents\") to sell on a best-effort agency basis 48,572,000 units (the \"Units\") of the Company, at a price of C$0.35 per Unit (the \"Offering Price\") for gross proceeds of C$17,000,200 (the \"Offering\"). Each Unit consists of one common share (\"Common Share\") of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant a \"Warrant\") of the Company. Each Warrant will entitle the holder thereof to acquire one Common Shares at the price of C$0.45 for a period of 24 months following the closing of the Offering (the \"Closing\").The Company expects to close the Offering on or about May 20, 2020.The Company intends to use the net proceeds of the Offering for exploration and development of the Company's exploration projects and for working capital purposes as set out in the Supplement.Concurrent with, or shortly following the closing of the Offering, the Company will undertake a non-brokered private placement of up to 2,860,000 Units on the same terms as the Offering, to raise up to C$1.0M (the \"Private Placement\"). The Private Placement may close after the Offering and in one or more tranches. The Units sold pursuant to the Private Placement will not be qualified under the Supplement. The Company may pay a finder's fee in respect of certain subscriptions in connection with the Private Placement.A copy of the Supplement and Base S...