Mawson GOLD Closes C$5.5 Million Public Offering of Common Shares
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE December 9, 2021
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
MAWSON GOLD CLOSES C$5.5 MILLION PUBLIC OFFERING OF COMMON SHARES
Vancouver, Canada – Mawson Gold Limited (“Mawson” or the “Company”) (TSX:MAW) (Frankfurt:MXR) (PINK:
MWSNF) announced today that it has closed its previously announced public offering (the “Offering”) to raise gross proceeds
of C$5,500,050. Pursuant to the Offering, Red Cloud Securities Inc. and Sprott Capital Partners LP, the co-lead agents, sold
36,667,000 common shares of the Company (the “Common Shares”), at a price of C$0.15 per Common Share.
The Company intends to use the net proceeds of the Offering for (i) advancing exploration and development of the Company’s
Rompas-Rajapalot project in Finland; and (ii) general corporate purposes, as set out in the final prospectus supplement dated
December 2, 2021, to its short form base shelf prospectus dated March 13, 2020.
Mr. Fairhall, CEO, stated: “We are very pleased to be financed for drilling in Finland starting next month targeted to grow the
camp scale gold-cobalt system, and to continue our de-risking work programs aimed at unlocking the value embedded in the
Rajapalot project. We are thankful for the continued support of existing shareholders, as we welcome new shareholders to the
registry.”
An insider of the Company participated in the Offering and purchased an aggregate of 500,000 Common Shares. Participation
of such insider in the Offering constituted a "related party tr ansaction" as defined under Multilateral Instrument 61-101 –
Protection of Minority Security Holders in Special Transactions ("MI 61-101"), but was exempt from the formal valuation and
minority shareholder approval requirements of MI 61-101, as nei ther the fair market value of the securities issued to the
i n s i d e r s n o r t h e c o n s i d e r a t i o n p a i d b y t h e i n s i d e r s e x c e e d e d 2 5% o f t h e C o m p a n y ' s m a r k e t c a p i t a l i z a t i o n . N o n e o f t h e
Company's directors expressed any contrary views or disagreements with respect to the foregoing. The Company did not file
a material change report 21 days prior to the closing of the Of fering as the details of the participation of the insider of th e
Company had not been confirmed at that time.
The securities offered have not been, and will not be, register ed 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 news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the
Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of that jurisdiction.
About Mawson Gold Limited (TSX:MAW, FRANKFURT:MXR, PINK:MWSNF)
Mawson Gold Limited is an exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic
exploration company with a focus on the flagship Rajapalot gold -cobalt project in Finland. Mawson also owns or is joint
venturing into three high-grade, historic epizonal goldfields c overing 470 square kilometres in Victoria, Australia and is wel l
placed to add to its already significant gold-cobalt resource in Finland.
2
On behalf of the Board,
"IVAN FAIRHALL"
Ivan Fairhall, Chief Executive Officer
Further Information
www.mawsongold.com
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), Corporate Secretary, +1 (604) 685 9316,
Forward-Looking Statement
This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, “forward-
looking statements”). All statements herein, other than stateme nts of historical fact, are forw ard-looking statements. Althoug h Mawson believes that such
statements are reasonable, it ca n give no assurance that such e xpectations will prove to be correct. Forward-looking statemen ts are typically identified by
words such as: believe, expect, anticipate, intend, estimate, postulate, and similar expressions, or are those, which, by their nature, refer to future events. In
particular, this news release co ntains forward-looking informat ion relating to, among other things, the use of proceeds of the Offering and the Company’s
exploration plans. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results
may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, the Company’s use of proceeds of
the Offering may vary from the intended uses; capital and other costs varying significantly from estimates; changes in world metal markets; changes in equity
markets; favourable governmental relations and support for the development and operation of mining projects; the potential impact of epidemics, pandemics
or other public health crises, including the current pandemic k nown as COVID-19 on the Company’s business; risks related to ne gative publicity with respect
to the Company or the mining industry in general; reliance on a single asset; planned drill programs and results varying from expectations; delays in obtaining
results; equipment failure; unexpected geological conditions; l ocal community relations; dealings with non-governmental organi zations; delays in operations
due to permit grants, environmental and safety risks; and other risks and uncertainties disclosed under the heading “Risk Fact ors” in Mawson's most recent
Annual Information Form filed o n www.sedar.com. Any forward-loo king statement speaks only as of the date on which it is made a nd, except as may be
required by applicable securities laws, Mawson disclaims any in tent or obligation to update any forward-looking statement, whe ther as a result of new
information, future events or results or otherwise.