Mawson Resources closes investment and acquisition in Australia

25 March 2020

On March 25, 2020, Mawson Resources Limited ("Mawson") (TSX: MAW) (Frankfurt: MXR) (PINKSHEETS: MWSNF) announced that it had closed its previously announced strategic and acquisition investment with Nagambie Resources Limited (ASX: NAG) ("Nagambie") of Australia.

Key aspects of the transaction include:

  • Mawson has subscribed for a 10% shareholding in Nagambie, in consideration of which Nagambie has received common shares of Mawson representing approximately 4.7% of the total issued common shares of Mawson;
  • Mawson has acquired 100% of the Clonbinane project,; and
  • Mawson has the right to earn up to a 70% joint venture interest in each of Nagambie’s Redcastle and Doctor’s Gully gold properties located in Victoria, Australia.

Mawson is an exploration and development company with a focus on the flagship Rajapalot gold project in Finland. The Australian acquisition provides Mawson with a strategic and diversified portfolio of high-quality gold exploration assets in two safe jurisdictions.

Gowling WLG advised Mawson with respect to this investment and acquisition with a team that included Cyndi Laval and Tara Amiri.

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