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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 which 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 Receipts. Please see 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”, with First Nordic following completion of the Transaction referred to herein as “NordCo Gold”). Refer to the press release of First Nordic and Mawson dated September 15, 2025 for further details on the Transaction. Each Subscription Receipt entitles the holders thereof to receive, for no additional consideration and without further action on part of the holder thereof, at the effective time of the Transaction, one (1) common share of NordCo Gold (to be adjusted to reflect a 4:1 consolidation to be completed by First Nordic prior to completion of the Transaction).
Noora Ahola, President and Chief Executive Officer of the Company, 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 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 with respect to the Special Meeting will contain details of the Transaction and will be mailed to Mawson shareholders around the second week of November and will also be available at Mawson's issuer profile on SEDAR+ at www.sedarplus.ca. Mawson encourages shareholders to vote as soon as proxy materials are made available to shareholders.
Subject to receipt of the approval of 66⅔% of the votes cast by Mawson shareholders at the Special Meeting, approval of the Ontario Superior Court of Justice (Commercial List), final acceptance of the TSXV of the Transaction and satisfaction or waiver of the other closing conditions set out 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 from time …Full story available on Benzinga.com