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Mawson Announces Public Offering of Units
Not for distribution to United States newswire services or for dissemination in the United S...
About this update from Southern Cross Gold Consolidated Ltd.
[{"type":"text","content":"Mawson Announces Public Offering of UnitsNot for distribution to United States newswire services or for dissemination in the United StatesVANCOUVER, BC / ACCESSWIRE / May 7, 2020 / Mawson Resources Limited (\"Mawson\" or the \"Company\") (TSX:MAW)(Frankfurt:MXR)(OTC PINK:MWSNF) announced today that it has filed a preliminary prospectus supplement (the \"Preliminary Supplement\") to its short form base shelf prospectus dated March 13, 2020 (the \"Base Shelf Prospectus\") relating to a proposed agency best efforts public offering (the \"Offering\") of units of the Company (the \"Units\"). Each unit (a \"Unit\") will be offered at a price of C$0.35 per Unit with each Unit being comprised 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 definitive size of the Offering will be determined in the context of the market.In addition, the Company intends to grant the agents a 30-day option to purchase that number of additional Units equal to 15% of the Units sold under the Offering to cover over-allotments on the same terms and conditions.Red Cloud Securities Inc. and Sprott Capital Partners LP are acting as co-lead agents for the Offering, on their own behalf and, if applicable, on behalf of a syndicate of agents. The proposed Offering will be subject to customary conditions, including the approval of the Toronto Stock Exchange (the \"TSX\"), and there can be no assurance as to whether or when the proposed Offering may be completed, or as to the actual size or terms of the Offering.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 Preliminary Supplement.The Offering is being conducted pursuant to the Company's Base Shelf Prospectus filed with the securities regulatory authority in each of the provinces British Columbia, Alberta and Ontario. The proposed offering will be made only by means of the Preliminary Supplement, a final prospectus supplement and the accompanying Base Shelf Prospectus.Concurrent with the Offering, t...