Mawson Resources Ltd (TSX:MAW) is set to raise up to around C$5mln in a placing to be used for exploration, mainly in Finland.
The funds will also be used for working capital and general corporate purposes.
Broker Haywood Securities will be lead agent on behalf of a syndicate of agents including Canaccord Genuity, Red Cloud Klondike Strike and Eight Capital.
The offering will see up to 14.286mln units issued at 35 cents a pop, for gross proceeds of up to $5,000,100.
Each unit will consist of one share and one-half of a share purchase warrant, which will entitle the holder to acquire one share at a price of C$0.50 for 24 months from closing.
The agents have also been given an over-allotment option.
If this option is exercised in full, an additional C$750,015 will be raised and total proceeds will be C$5,750,115.
The offer is expected to close on or around December 6 this year.