Mawson Resources Ltd (TSE:MAW) is set for a C$104,550 financing following the closing of its strategic and acquisition investment with Nagambie Resources Ltd, which holds ground in the central Victorian goldfields of Australia, after an existing shareholder chose to exercise its participation righrs
Mawson issued a total of 9.5 million shares to Nagambie as part of the deal.
READ: Mawson Resources closes subscription deal with Nagambie Resources for central Victorian goldfields in Australia
Now, an existing shareholder of the Mawson has elected to exercise its participation rights to maintain its pro-rata ownership in Mawson.
Mawson plans to carry out a private placement, issuing 615,000 if its shares at C$0.17 each for gross proceeds of C$104,550.
Proceeds from the placement will be used for working capital and general corporate purposes, said the firm.
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