Tuesday, 24 April 2012

Mawson says TSX-V gives conditional approval for listing of Darwin Resources

Mawson Resources (TSE:MAW) said Tuesday that the TSX Venture Exchange has conditionally accepted the listing of Darwin Resources Corp's shares - a condition of Mawson's previously announced reorganization plans to split into two public companies.

In early April, shareholders of Mawson approved a plan of arrangement between the company and Darwin Resources.

The arrangement will see each shareholder of Mawson be entitled to one new common share of Mawson, one-third of one common share of Darwin and approximately one-fifth of one common share of European Uranium Resources (CVE:EUU), formerly Tournigan Energy, for each share of Mawson held prior.

For this to complete, Mawson shareholders must surrender their Mawson share certificates together with a duly completed Letter of Transmittal to Computershare Investor Services Inc.

It is expected that once the transaction is complete, anticipated for April 30, Mawson will have 52,096,753 shares outstanding and Darwin will have roughly 26,115,584 shares outstanding, after which Dawson's shares will be listed.

The transaction is part of Mawson's plan to restructure its business into two separate public companies, allowing Mawson to focus on the development of its flagship Rompas gold property in Finland.

In December, Mawson agreed to sell seven uranium properties in Finland and Sweden to European Uranium Resources, then Tournigan Energy.

For further details on the arrangement and the reorganization of the business, please refer to the company's circular, filed on Mawson's profile under SEDAR at www.sedar.com.

Mawson Resources is a Scandinavian exploration company with a focus on the flagship Rompas gold project in Finland.

Earlier this month, the company reported that a second diamond drill rig has been mobilized to the project in northern Finland, in order to complete a 3,000 metre drill program before spring breakup.

Mawson is operating under an agreement with landholders that permits the company to access and drill on private land that covers more than 500 metres of strike potential in two areas at South Rompas.

No comments:

Post a Comment