VANCOUVER, British Columbia, Oct. 17, 2025 (GLOBE NEWSWIRE) – Mawson Finland Limited (“Mawson” or the “Company”) (TSXV: MFL) is pleased to highlight the closing of First Nordic Metals Corp.’s (TSXV: FNM, FNSE: FNMC SDB, OTCQX: FNMCF, FRA: HEG0) (“First Nordic”) $80 million financing. This financing was comprised of a concurrent brokered and non-brokered offering of subscription receipts of First Nordic (the “Subscription Receipts”) at a price of $0.38 per Subscription Receipt. Please refer to First Nordic’s press release dated October 15, 2025, for further details.
On September 14, 2025, First Nordic and Mawson entered into a definitive arrangement agreement (the “Arrangement Agreement”) pursuant to which First Nordic agreed to acquire all the issued and outstanding common shares of Mawson by way of a plan of arrangement (the “Transaction”). Following completion of the Transaction, First Nordic will be referred to as “NordCo Gold.” For more information, please see the joint press release from First Nordic and Mawson dated September 15, 2025.
Each Subscription Receipt entitles the holder to receive, at the effective time of the Transaction and without any additional consideration or further action, one (1) common share of NordCo Gold. This will be adjusted to reflect a 4:1 share consolidation to be completed by First Nordic prior to the Transaction’s completion.
Noora Ahola, President and Chief Executive Officer of Mawson, stated, “We are pleased that NordCo Gold will be well-capitalized following the closing of the Transaction, with sufficient resources to advance First Nordic’s Barsele project and Mawson’s Rajapalot project.”
Mawson also announces that its upcoming special meeting of shareholders (the “Special Meeting”) to vote on the Transaction has been scheduled for December 4, 2025. Mawson’s management information circular regarding the Special Meeting, which will contain full details on the Transaction, will be mailed to shareholders around the second week of November. It will also be available on Mawson’s issuer profile on SEDAR+ at www.sedarplus.ca. Mawson encourages its shareholders to vote as soon as proxy materials are received.
Subject to approval by at least 66⅔% of the votes cast by Mawson shareholders at the Special Meeting, approval of the Ontario Superior Court of Justice (Commercial List), final acceptance by the TSXV of the Transaction, and satisfaction or waiver of other closing conditions outlined in the Arrangement Agreement, the Transaction is expected to close in December 2025.
In connection with the Transaction, First Nordic has agreed to provide bridge financing to Mawson in the form of a loan of up to $1,000,000 to be advanced as needed.
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