Gold explorer Mawson Resources Ltd (TSE:MAW) is set to raise up to $6mln in a private placing to advance its Rompas-Rajapalot project in Finland.
The group is issuing up to 15 million units at 40 cents each, with each unit consist of one share and one-half of one share purchase warrant exercisable to acquire one share at 60 cents for two years.
Sentient Global Resources Fund IV LP, an insider of Mawson, plans to buy up to around 5.37mln units for gross proceeds of up to $2.151mln.
Last week, Mawson said it had completed the first phase of a geophysical program to infill and extend data coverage at the wholly-owned Rompas-Rajapalot project in northern Finland.
The firm now plans to extend the geophysical survey area (phase 2) into additional gold prospective areas.
Story by ProactiveInvestors