Mawson Announces Closing of C$7.9M Upsized Private Placement Financing
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE October 30, 2019
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
MAWSON ANNOUNCES CLOSING OF C$7.9M UPSIZED PRIVATE PLACEMENT FINANCING
Vancouver, Canada – Mawson Resources Limited (“Ma wson” or the “Company”) (TSX:MAW) (Frankfurt:MXR)
(PINKSHEETS: MWSNF) is pleased to announce that it has closed it s previously announced oversubscribed private
placement financing (Mawson News Releases 24 September 2019 and 16 October 2019) (the “Offering”) for gross proceeds
of C$7,900,280.
A total of 49,376,749 units (the “Units”) of the Company, were issued at a price of C$0.16 per Unit. Each Unit consisted of
one (1) common share of the Company and one-half of one common share purchase warrant (each whole common share
purchase warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one common share of the Company
at a price of C$0.24 at any time prior to October 30, 2021. The Offering consisted of a brokered offering (the “ Brokered
Offering”) led by Red Cloud Securities as lead agent on behalf of a syndicate (the “Syndicate”) of agents including
Haywood Securities Inc., Canaccord Genuity Corp. and Eight Capital, and a non-brokered offering (the “ Non-Brokered
Offering”).
The net proceeds received by the Company from the Offering will be used for exploration on the Company’s exploration
properties, located primarily in Finland, and for working capita l and general corporate purposes. All securities issued in
connection with the Offering are subject to a statutory four-month hold period expiring on March 2, 2020.
The Non-Brokered Offering included the participation of cert ain directors and officers of the Company for C$132,000, certain
existing shareholders of Mawson pursuant to the exercise of pre-existing pre-empt ive rights and new shareholders including
affiliates and clients of the Sprott Group.
Michael Hudson, Chairman & CEO of Mawson commented, “To attract such significant suppor t at this time of the market
cycle speaks to the quality of our Finnish gold-cobalt assets and the Mawson team that is driving discovery and resource
expansion through systematic and rigorous exploration business pr actice. We are extremely grateful for the support of both
existing and new shareholders to the Mawson register. Drilling at the Palokas prospect will commence within the next week
and further rigs will be added in late December, to complete a 15 kilometre drill program that will see the Company drilling to
expand resources through to April 2020.”
As the Offering resulted in a number of common shares being issued and made issuable that was greater than 25% of the
outstanding common shares of the Company, pursuant to TSX policies, the Company sought and received shareholder
approval by way of written consents of shareholders holding more than 50% of the common shares of Mawson.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended
(the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or
for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements
of the U.S. Securities Act and applicable U.S. state securities laws. This press release does no t constitute an offer to sell o r
the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)
Mawson Resources Limited is an exploration and development company with a focus on the resource expansion of its high-
grade Rajapalot gold-cobalt project in Finland. Mawson has distinguished itself as a leading Nordic Arctic exploration
company.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, Chairman & CEO
Further Information
www.mawsonresources.com
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), Corporate Secretary, +1 (604) 685 9316,
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Forward-Looking Statement
This news release contains forward-looking statements or forward-looking information within the meaning of applicable securitie s laws (collectively,
"forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes
that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically
identified by words such as: believe, expe ct, anticipate, intend, estimate, postulate, and similar expressions, or are those, w hich, by their nature, refer to
future events. Mawson cautions investors that any forward-lookin g statements are not guarantees of future results or performanc e, and that actual results
may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, t he use of the net proceeds from
the Offering, capital and other costs varying significantly from es timates, changes in world metal markets, changes in equity markets, planned drill programs
and results varying from expectations, delays in obtaining resu lts, equipment failure, unexpected geological conditions, local community relations, dealings
with non-governmental organizations, delays in operations due to permit grants, environmental and safety risks, and other risks and uncertainties disclosed
under the heading "Risk Factors" in Mawson's most recent Annual Information Form filed on www.sedar.com. Any forward-looking statement speaks only as
of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or ob ligation to update any
forward-looking statement, whether as a result of new information, future events or results or otherwise.