Business
Mawson Resources Closes C$17 Million 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 Resources Closes C$17 Million Public Offering of UnitsNot For Distribution To United States Newswire Services Or For Dissemination In The United States.VANCOUVER, BC / ACCESSWIRE / May 20, 2020 / Mawson Resources Limited (\"Mawson\" or the \"Company\") (TSX:MAW)(Frankfurt:MXR)(OTC PINK:MWSNF) is pleased to announce that it has closed its previously announced public offering (the \"Offering\") to raise gross proceeds of C$17,000,200. Pursuant to the Offering, Red Cloud Securities Inc. and Sprott Capital Partners LP, the co-lead agents, and Canaccord Genuity Corp. and Eight Capital sold 48,572,000 units (the \"Units\") of the Company, at a price of C$0.35 per Unit. Each Unit consisted 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 entitles the holder thereof to acquire one Common Share at the price of C$0.45 until May 20, 2022.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 final prospectus supplement dated May 11, 2020 (the \"Supplement\") to its short form base shelf prospectus dated March 13, 2020 (\"Base Shelf Prospectus\").Michael Hudson, Chairman and CEO, states, \"Mawson has never been in a better position with a strong gold portfolio in two safe and tier one jurisdictions, permits in place and the financial resources to rapidly advance. We are incredibly pleased to have closed this oversubscribed C$17M offering led by several globally significant institutional accounts. We are thankful for the continued support of our existing shareholders and welcome all new parties to our register. Mawson intends to aggressively drill out the growing gold resource base in Finland over the next two years and immediately start exploration on our new Fosterville-style high grade projects in the Victorian goldfields of Australia. We thank all parties involved, including our co-lead agents Red Cloud Securities Inc. and Sprott Capital Partners LP, as we now go forward with an extremely strong foundation.\"The securities offered 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 U...