Mawson Gold Ltd. (MWSNF)

[Kaseymoe]

Mawson Gold's Subsidiary Southern Cross completes IPO and is on AustralianStock Exchange

https://www.marketscreener.com/quote/stock/MAWSON-GOLD-LIMITED-1410731/news/Mawson-s-Subsidiary-Southern-Cross-Gold-Lists-on-the-ASX-40467704/

The text:

reports that its majority-owned Australian subsidiary, Southern Cross Gold Ltd ('SXG'), has announced it has closed its initial public offering ('IPO').

Its common shares commenced trading on the Australian Securities Exchange ('ASX') on the 16th of May, 2022.

Takeaways for Mawson Shareholders

SXG has raised A$9.1 million in its IPO, bringing total raised since January 2022 to A$11.8 million

SXG Market capitalization of A$32 million (A$19.2 million for Mawson's 60.3% interest) based on the end of its first day of trading closing price of A$0.205 per share

SXG will focus exploration at Sunday Creek

10 new drill holes have now been sent for assay with results to flow as they are received

Previously reported highlight drill intersections included 21.7 metres @ 4.7g/t gold and 1.0% antimony, and 3.0 metres @ 41.4g/t gold and 12.0% antimony

Strong support of the IPO is an endorsement of SXG's Australian projects and strengthens the asset base of Mawson.

SXG has its own management team, self-funding capability and access to additional capital through its listing on the ASX.

Ivan Fairhall, Mawson CEO, states: 'This successful IPO clearly demonstrates the value created for Mawson shareholders, through careful project identification, skilled exploration effort, and considered capital markets strategizing. The C$17.2 million market cap of our SXG stake equates to over half of Mawson's total market capitalization today, and this helps us shine a light on the value upside potential of our million-ounce gold equivalent inferred resource in Finland - to be articulated with our in-progress PEA and ongoing exploration efforts at Rajapalot and Skelleftea North.

SXG is now well funded for future success in exploring its exciting new discovery portfolio, and Mawson is very pleased to maintain a strategic stake in this business. On behalf of the Board of Mawson, I thank the SXG team for its hard work and congratulate them on this significant achievement.'

About Mawson Gold Limited (TSX:MAW, FRANKFURT:MXR, OTCPINK:MWSNF)

Mawson Gold Limited is an exploration and development company with its flagship Rajapalot gold-cobalt project in Finland now entering technical de-risking stages. Alongside ongoing exploration at Rajapalot, Mawson holds an option to earn up to 85% in the Skelleftea Gold Project in Sweden. Mawson also has a significant majority interest in the ownership or joint venture into three high-grade, historic epizonal goldfields covering 470 km-2 in Victoria, Australia, through Southern Cross Gold Ltd, which has successfully listed on the ASX. Mawson's 60.3% ownership interest in Southern Cross is escrowed until May 16, 2024.

About Southern Cross Gold Ltd (ASX:SXG)

Southern Cross Gold holds the 100%-owned Sunday Creek project in Victoria and Mt Isa project in Queensland, the Redcastle and Whroo joint ventures in Victoria, Australia, and a strategic 10% holding in the ASX listed Nagambie Resources Limited (ASX:NAG) which grants it a Right of First Refusal over a 3,300 square kilometre tenement package held by NAG in Victoria.