Mawson Resources Ltd (TSE:MAW) announced Thursday that it is is aiming to extend the term of 7.5 million common share purchase warrants that were issued in connection with the closing of a non-brokered private placement in 2016.
Each warrant entitles holders to purchase one common share of Mawson at an exercise price of $0.60 per share and are currently set to expire Dec. 2, 2018.
The company recently unveiled more positive drill results from its Rajapalot project in Finland.
READ: Mawson Resources shares nudge higher following more Rajapalot results; company eyeing maiden resource
The company said it will is aiming to extend the expiry date of the warrants by one year, subject to an acceleration provision, and will make an application with the Toronto Stock Exchange.
The company said the proposed extension is conditional to Toronto Stock Exchange approval.
Shares of Mawson were at C$0.31 on Thursday.