Mawson Resources Limited (TSE:MAW) (OTCPINK:MWSNF) said Wednesday that it has closed on a non-brokered private placement that raised C$1,001,000.
The gold exploration and development company said it intends to use the money for exploration on its properties and for working capital and general corporate purposes.
A total of 2,860,000 units were issued at C$0.35 apiece. Each unit consisted of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one common share for C$0.45 each until May 27, 2022.
All securities issued in connection with the offering are subject to a statutory four-month hold period expiring on September 28, 2020.
Vancouver-based Mawson is a leading Nordic Arctic exploration company with a focus on the flagship Rajapalot gold-cobalt project in Finland. It has also diversified into Australia, acquiring three shallow high-grade gold assets.
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