Mawson Resources Ltd (TSX: MAW) has announced that one of its shareholders has chosen to execute on their participation rights and increase their ownership in the company.
Following Mawson’s successful investment and acquisition with Nagambie Resources Ltd, the company will be issuing a private placement to one of its existing shareholders consisting of 615,000 common shares at a price of $0.17 per share. The total gross proceeds that Mawson will receive following the success of the private placement will be $104,550.
The shareholder has decided to execute on their participation rights via private placement as a move to preserve their pro-rata ownership in Mawson. As such, those issued common shares will be subject to a four month hold period. The company intends to use the proceeds collected from the private placement for general corporate purposes and working capital.
Mawson is a Canadian mining exploration and development company, focusing on gold projects in Finland, the Arctic, and now Australia.
Mawson Resources Ltd is currently trading at $0.18 on the TSX.
Information for this briefing was found via Sedar and Mawson Resources Ltd. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.