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Mawson Resources Ltd Announces Closing Of Second Tranche Of Its $4.2 Million Non-Brokered Private Placement

Monday, 9 Sep 2013 04:10pm EDT 

Mawson Resources Ltd announced the closing of the second and final tranche of the non-brokered private placement financing previously announced by the Company (See news releases July 17, August 6 and September 3, 2013). Under the Second Tranche, Sentient Global Resources Fund IV, L.P. (the Sentient Fund), part of a group of funds which is an insider of Mawson (the Sentient Group), was issued 3,634,000 Units for gross proceeds of $1,635,300. Each Unit consists of one common share of Mawson and one-half of one non-transferable common share purchase warrant. Each whole Warrant is exercisable to acquire one additional common share of Mawson at a price of $0.65 until September 9, 2015. Following closing of the Second Tranche, the Sentient Group holds approximately 35.05% of the issued and outstanding common shares of Mawson on a partially diluted basis (taking into account the full exercise of the warrants issued to the Sentient Fund). The securities issued under the Second Tranche are subject to a four-month hold period expiring on January 10, 2014. The net proceeds from the financing will be used to advance exploration work on Mawson's projects in Finland and for general working capital purposes. 

Company Quote

23 Dec 2014