Offering with Sentient Group consists of 5 million units at C$0.79
By Devika Patel
Knoxville, Tenn., Oct. 15 - Mawson Resources Ltd. announced that it plans a private placement of units. The deal will raise C$5.53 million.
The company will sell 5 million units at C$0.79 apiece to a fund managed by the Sentient Group. It will sell an additional 2 million units to other investors.
The units consists of one common share and one half-share warrant. The whole warrants will be exercisable at C$1.20 for two years.
The strike price reflects a 53.85% premium to the Oct. 14 closing share price of C$0.78.
"Sentient has a strong reputation for investing in quality metal, mineral and energy assets across the globe and its long-term support of these investments through its 10 year closed-end private equity fund structure," president and chief executive officer Michael Hudson said in a press release.
"The addition of such a prominent investor to Mawson's share register represents an enormous vote of confidence in both our gold and uranium portfolio and the Company's committed and talented team."
Mawson is a Vancouver, B.C.-based mineral exploration company.
| Issuer: | Mawson Resources Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$5.53 million
|
| Units: | 7 million
|
| Price: | C$0.79
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.20
|
| Investor: | Sentient Group (for C$3.95 million)
|
| Pricing date: | Oct. 15
|
| Stock symbol: | Toronto: MAW
|
| Stock price: | C$0.78 at close Oct. 14
|
| Market capitalization: | C$36.29 million
|
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