Mawson Finland Limited (“
Mawson Finland” or the
“
Company”) is pleased to announce that it has
obtained a receipt for its final prospectus (the
“
Prospectus”) filed with the securities regulatory
authorities in each of the provinces of Canada, other than Québec,
for an initial public offering (the “
Offering”) of
a minimum of 2,000,000 common shares in the capital of the Company
(“
Shares”) and a maximum of 2,500,000 Shares at a
price of $1.00 per Share (the “
Offering Price”)
for minimum gross proceeds of $2,000,000 and maximum gross proceeds
of $2,500,000.
Eight Capital (the “Agent”) is
acting as sole agent for the Offering. Mawson Finland has also
granted the Agent an over-allotment option (the
“Over-Allotment Option”), exercisable in whole or
in part at the sole discretion of the Agent, for a period of 30
days from the Closing Date (as defined below), to offer for sale at
the Offering Price up to 15% of the Shares issued pursuant to the
Offering on the Closing Date, for additional aggregate proceeds to
the Company of $375,000 if the Over-Allotment Option is exercised
in full.
The closing of the Offering is expected to occur
on or about August 13, 2024 (the “Closing Date”),
or such earlier or later date as may be mutually agreed to by
Mawson Finland and the Agent, and is subject to customary closing
conditions including the receipt of all necessary regulatory
approvals. Mawson Finland has received conditional approval to list
the Shares, including any Shares issued and sold pursuant to the
Over-Allotment Option, on the TSX Venture Exchange (the
“TSXV”) under the symbol “MFL”. Listing remains
subject to the Company fulfilling all of the listing requirements
of the TSXV.
The net proceeds from the Offering will be
expended on the remainder of the work program recommended in the
Rajapalot Technical Report (as such term is defined in the
Prospectus) and general and administrative expenses, as well as for
general working capital purposes, all as more particularly
described in the Prospectus. The Company may reallocate the use of
funds from the Offering for sound business reasons. A copy of the
Prospectus is available under the Company’s profile on SEDAR+ at
www.sedarplus.ca.
The Shares have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”), or the
securities laws of any state of the United States, and may not be
offered, sold or delivered, directly or indirectly, in the “United
States” (as such term is defined in Regulation S under the U.S.
Securities Act (“Regulation S”)), except pursuant
to an exemption from the registration requirements of the U.S.
Securities Act and applicable state securities laws.
The Offering is made only by prospectus.
The Prospectus contains important detailed information about the
securities being offered and is accessible through SEDAR+. Copies
of the Prospectus may be obtained from the Company or the Agent.
Investors should read the Prospectus before making an investment
decision.
About Mawson Finland Limited
Mawson Finland is a mineral exploration &
development company focused on gold and cobalt in the Lapland
Region of Finland. The Rajapalot Project is 30 km from the northern
Finland city of Rovaniemi and has excellent infrastructure. The
Company maintains an active local presence of Finnish staff with
close ties to the communities of Rajapalot.
Further details on the Company can be found on
the Company’s website at www.mawsonfinland.com.
For further information, please contact:
Neil MacRaeExecutive ChairmanPhone: +1 (778) 999-4653Email:
neil@mawsonfinland.com |
Noora AholaPresident and Executive Chief OfficerPhone:
+358 (505) 213-515Email: nahola@mawson.fi |
|
|
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release. No securities regulatory authority
has reviewed or approved of the contents of this news release. This
news release does not constitute an offer to sell or a solicitation
of an offer to buy any securities of Mawson Finland in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
Forward-looking information
This news release includes certain
“forward-looking information” and “forward-looking statements”
within the meaning of applicable securities laws (collectively,
“forward-looking information”) which are not comprised of
historical facts. Forward-looking information includes, without
limitation, estimates and statements that describe the Company’s
future plans, objectives or goals, including words to the effect
that the Company or management expects a stated condition or result
to occur. Forward-looking information may be identified by such
terms as “believes”, “anticipates”, “expects”, “estimates”, “may”,
“could”, “would”, “will”, “must” or “plan”. Since forward-looking
information is based on assumptions and addresses future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Although these statements are based on information
currently available to the Company, the Company provides no
assurance that actual results will meet management’s expectations.
Risks, uncertainties and other factors involved with
forward-looking information could cause actual events, results,
performance, prospects and opportunities to differ materially from
those expressed or implied by such forward-looking information.
Forward-looking information in this news release includes, but is
not limited to, expected receipt of regulatory and/or exchange
approvals, listing of the Shares on the TSXV or any other exchange,
the closing of the Offering, on the proposed terms or at all, the
exercise of all or any part of the Over-Allotment Option, the
Company’s intended use of proceeds from the Offering, the Company’s
objectives, goals or future plans, statements, exploration results,
potential mineralization, the estimation of mineral resources,
exploration and mine development plans, and estimates of market
conditions. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to: any failure of the Company to meet the conditions
of the TSXV or of the TSXV to grant to the Company final approval
to list the Shares, any failure by the Agent or the Company to
complete the Offering, on the proposed terms or at all, any change
in industry or wider economic conditions which could cause the
Company to use proceeds from the Offering otherwise than as
heretofore disclosed, failure to identify mineral resources,
failure to convert estimated mineral resources to reserves, the
inability to complete a feasibility study which recommends a
production decision, the preliminary nature of metallurgical test
results, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, political
risks, uncertainties relating to the availability and costs of
financing needed in the future, changes in equity markets,
inflation, changes in exchange rates, fluctuations in commodity
prices, delays in the development of projects, capital and
operating costs varying significantly from estimates and the other
risks involved in the mineral exploration and development industry,
and those risks set out in the Company’s public documents filed on
SEDAR+. Although the Company believes that the assumptions and
factors used in preparing the forward-looking information in this
news release are reasonable, undue reliance should not be placed on
such information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
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