First Nordic and Mawson Complete Merger to Create a Leading Nordic-Focused Gold Development and Exploration Company

Core Viewpoint - First Nordic Metals Corp. has successfully completed the acquisition of Mawson Finland Limited, consolidating a significant gold development and exploration portfolio in Sweden and Finland, and will rebrand as Goldsky Resources Corp. [1][4] Transaction Overview - The acquisition was executed through a court-approved plan of arrangement, effective December 16, 2025, and follows a share consolidation that took place on December 10, 2025 [1][3][2]. - The transaction involved an exchange ratio of 1.7884 Company Shares for each common share of Mawson [10]. Portfolio and Resource Highlights - The combined entity now holds a total of 2.0 million ounces of gold equivalent (AuEq) in inferred resources and 0.3 million ounces in indicated resources [8]. - Key projects include: - Barsele Project: 5.58 million tonnes at 1.81 g/t Au (324,000 oz Au) and 25.50 million tonnes at 2.54 g/t Au (2.09 million oz Au) [8]. - Rajapalot Project: 9.8 million tonnes at 2.8 g/t Au and 441 ppm Co (0.9 million oz Au) [8]. - Oijärvi Project: 1.07 million tonnes at 4.1 g/t Au and 35.4 g/t Ag (159,000 oz AuEq) [8]. Financial Aspects - The company raised C$80 million through subscription receipt financings, which will be allocated for exploration programs, transaction costs, and working capital [5]. - Following the transaction, the company has approximately C$86 million in cash before transaction costs [17]. Management and Board Changes - The new management team includes experienced mine builders and capital markets experts, with Peter Breese as Chairman and Russell Bradford as CEO [7][18]. - The board will also include members from both First Nordic and Mawson, enhancing governance and strategic oversight [23]. Market Position and Future Outlook - The merger positions Goldsky as a leading Nordic gold developer with a diversified asset portfolio and significant exploration potential [9][17]. - The company aims to leverage its combined experience to accelerate project development and explore further acquisition opportunities in the region [17][25].