VANCOUVER, Sept. 27, 2018 /CNW/ - Mawson
Resources Limited ("Mawson") or (the "Company")
(TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces that
the Company proposes to extend the term of an aggregate of
7,500,000 common share purchase warrants (the "Warrants")
that were issued in connection with the closing of a non-brokered
private placement in 2016.
Each Warrant entitles holders to purchase one common share of
Mawson (the "Shares") at an exercise price of $0.60 per Share and are currently due to expire
on December 2, 2018. The Company will
make an application with the Toronto Stock Exchange (the
"Exchange") to extend the expiry date of the Warrants by one
year (the "New Expiry Date"), subject to an acceleration
provision. The acceleration provision provides that in the event
the Shares trade on the Exchange or, if such Shares are no longer
listed on the Exchange, on such other stock exchange on which such
Shares are listed, at a weighted average trading price of
CDN$0.80 per Share for any twenty
(20) consecutive trading-day period, the Company may accelerate the
New Expiry Date of all, but not less than all, of the Warrants to
the date that is thirty (30) days from the date of issue of a news
release by the Company announcing such acceleration of the New
Expiry Date. All other terms of the Warrants will remain the
same.
As a director of the Company holds 25,000 warrants and a greater
than 10% institutional shareholder holds 2,689,033
warrants, it is a requirement of Exchange policies that Mawson
seek disinterested shareholder approval at the next annual meeting
of shareholders to be held on Tuesday,
November 6, 2018. As such, the proposed extension of all the
Warrants by the Company is conditional upon receipt of both
Exchange and disinterested shareholder approval.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
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 state securities laws and may not be offered or
sold within the United States or
to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR,
PINKSHEETS:MWSNF)
Mawson Resources Limited is an exploration and development
company. Mawson has distinguished itself as a leading Nordic Arctic
exploration company with a focus on the flagship Rompas and
Rajapalot gold projects in Finland.
On behalf of the Board,
"Michael
Hudson"
Michael
Hudson, Chairman & CEO
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 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,
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 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 receipt of disinterested
shareholder and Exchange approval with respect to the extension of
the Warrants, capital and other costs varying significantly from
estimates, changes in world metal markets, changes in equity
markets, planned drill programs and results varying from
expectations, delays in obtaining results, 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
obligation to update any forward-looking statement, whether as a
result of new information, future events or results or
otherwise.
SOURCE Mawson Resources Ltd.