December 17, 2017

MAWSON WEST COMPLETES FINANCING

Mawson West Limited (TSX: MWE) (“Mawson West” or “the Company”) is pleased to announce that it has completed a previously announced private placement with Galena Private Equity Resources Fund LP (“Galena”) for gross proceeds of C$21.6 million. The placement was conducted pursuant to the full exercise of the backstop agreement between the Company and Galena forming part of the transactions between the Company and Galena as announced in the Company’s press releases of December 11, 2014 and December 19, 2014, and follows receipt of shareholder approval for the placement at the Company’s extraordinary meeting of shareholders held on 25 February 2015.

 

Under the placement, Mawson West issued 180,000,000 ordinary shares in the Company to Galena on a

private placement basis at an issue price of C$0.12 per share for gross proceeds of C$21.6 million. In

connection with the placement, Mawson West paid Galena a 4% brokerage fee satisfied through the

issuance of a further 7,200,000 ordinary shares at the same price. The shares issued to Galena under the

private placement are subject to resale restrictions under Canadian securities laws and the rules of the TSX

expiring on June 28, 2015.

 

Anthony Lloyd, Chairman and Acting CEO, commented: “I welcome Galena as a strategic partner of

Mawson West and majority shareholder. With Jesus Fernandez having joined the Board of Mawson West

earlier this year as a representative of Galena and a further Galena nominee to be appointed in due

course, together we look forward to first production from our Kapulo copper project in the Democratic

Republic of Congo.

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