TSX - MAW; Frankfurt - MRY (WKN# A0B 8YJ); Pinksheets - MWSNF
MAWSON PROPOSES A SPIN-OUT OF ITS PERUVIAN ASSETS AND PROPOSES THE REORGANIZATION OF ITS BUSINESS AND CAPITAL STRUCTURE RESULTING INTO TWO SEPARATE PUBLIC COMPANIES
2) The shares of Darwin will be distributed to shareholders of Mawson as a return of capital by way of a plan of arrangement (the "Arrangement") under the Corporations Act (British Columbia);
3) The Arrangement will be voted on at a special meeting of Shareholders of Mawson which is anticipated to be held in early 2012, and will be subject to numerous conditions including shareholder and court approval, approval by, and listing of the Darwin shares on either the TSX Venture Exchange or the TSX and completion of all required regulatory filings;
4) Dr. Graham Carman will be Darwin's President & CEO. Dr. Carman has 25 years global exploration experience and 7 years direct exploration and managerial experience in Peru, firstly with Rio Tinto and then with Savage Resources and Pasminco Ltd as Exploration Manager until 2000. Until recently he was the founder and Managing Director of Paradigm Metals Ltd (ASX:PDM). He obtained his geological doctorate from Monash University in Melbourne studying the world-class Lihir Island gold deposit PNG.
Dr. Carman will be joining Darwin full time from January 1 2012.
"Mawson's 100% owned Rompas gold discovery in Finland has developed into a significant project that will take a majority of Mawson's focus and resources for the foreseeable future. Nevertheless, an experienced team has been working diligently over the last year to acquire a prospective gold and copper portfolio in Peru. The Board has decided that shareholders will benefit by placing the Company's Peruvian assets in a standalone vehicle.
We are thrilled that Dr. Graham Carman has accepted the role to run Darwin. He will manage a first class team headed by both Mr. Georg Winkelmann as Managing Director of Darwin's Peruvian companies and Mr. Rolando Ligarda as Darwin's Exploration Manager for South America. Importantly, all three gentlemen have a long and successful history working together over the last 16 years.
We look forward to announcing further details regarding the Darwin spin-out as they become available."
- Shares in Mawson Resources with its stellar flagship Rompas property in Finland; and
- Shares in Darwin Resources with a focus on large, long life, gold/copper deposits in Latin America.
Click Here for Mawson’s Latest Gold/Uranium 2-page Summary
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| Nick L. Nicolaas |