Mawson Resources Limited (TSX:MAW) (OTCPINK:MWSNF) said it has closed a previously announced public offering raising gross proceeds of just over C$17 million.
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 of the company at a price of C$0.35 per unit.
READ: Mawson Resources to raise additional proceeds for exploration and development at Finnish and Australian projects
Each unit consisted of one share in the company and one-half of one share purchase warrant which entitles the holder to acquire one share at the price of C$0.45 until May 20, 2022.
Mawson said it intends to use the proceeds of the offering for the exploration and development of its projects and for working capital purposes.
In a statement on Wednesday, Mawson chairman and chief executive Michael Hudson said: "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", he added.
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