Mawson Resources Closes C$17 Million Public Offering of Units
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE May 20, 2020
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
MAWSON RESOURCES CLOSES C$17 MILLION PUBLIC OFFERING OF UNITS
Vancouver, Canada – Mawson Resources Limited (“Ma wson” or the “Company”) (TSX:MAW) (Frankfurt:MXR)
(PINKSHEETS: MWSNF) is pleased to announce that it has closed its previously announced public offering (the “Offering”)
to raise gross proceeds of C$17,000,200. Pursuant to the Offering , Red Cloud Securities Inc. and Sprott Capital Partners LP,
the co-lead agents, and Canaccord Genuity Corp. and Eight Capital sold 48,572,000 units (the “Units”) of the Company, at a
price of C$0.35 per Unit. Each Unit consisted of one common share (“Common Share”) of the Company and one-half of one
Common Share purchase warrant (each whole Common Share purchase warrant a “Warrant”) of the Company. Each Warrant
entitles the holder thereof to acquire one Common Share at the price of C$0.45 until May 20, 2022.
The Company intends to use the net proceeds of the Offering for exploration and development of the Company’s exploration
projects and for working capital purpos es as set out in the final prospect us supplement dated May 11, 2020 (the
“Supplement”) to its short form base shelf prospectus dated March 13, 2020 (“Base Shelf Prospectus”).
Michael Hudson, Chairman and CEO, states, “Mawson has never been in a better position with a strong gold portfolio in two
safe and tier one jurisdictions, permits in place and the financi al resources to rapidly advance. We are incredibly pleased to
have closed this oversubscribed C$17M o ffering led by several globally significant in stitutional accounts. We are thankful for
the continued support of our existing shareholders and welcome all new parties to our register. Mawson intends to aggressively
drill out the growing gold resource base in Finland over the next two years and immediately start exploration on our new
Fosterville-style high grade projects in the Victorian goldfields of Australia. We thank all parties involved, including our co-lead
agents Red Cloud Securities Inc. and Sprott Capital Partners LP, as we now go forward with an extremely strong foundation.”
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 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
Units, Common Shares or Warrants in any jurisdiction in whic h such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that jurisdiction.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)
Mawson Resources Limited is a gold exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic
exploration company with a focus on the flag ship Rajapalot gold-cobalt project in Finland. The recent acquisition in the Victor ian goldfields
of Australia provides Mawson with a strate gic and diversified portfolio of high-quality gold exploration assets in two tier one and safe
jurisdictions.
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 (Canada)
Mariana Bermudez, 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 statements of historical fact, are forward-looking statements. Although Mawson believes t hat such
statements are reasonable, it can give no as surance that such expectations will prove to be correct. Forward-looking statement s 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.
Mawson cautions investors that any forward- looking statements are not guar antees of future results or performance, and that act ual results may differ
materially from those in forward-looking statements as a result of various factors, including, but not limited to, the proposed use of the net proceeds of the
Offering varying from expectations, the potential impact of epid emics, pandemics or other public health crises, including the c urrent outbreak of the novel
coronavirus known as COVID-19 on the Company’s business, operations and financial condition, capital and other costs varying si gnificantly from estimates,
changes in world metal markets, changes in equity markets, pla nned drill programs and results varying from expectations, delays in obtaining results,
equipment failure, unexpected geological cond itions, local community relations, dealings with non-governmental organizations, d elays 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 Supplement
and Base Shelf Prospectus, and the documents incorporated therei n, 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 obligation to upd ate any forward-looking
statement, whether as a result of new information, future events or results or otherwise.