First Nordic to provide a loan to Mawson Finland

Executive Summary

• First Nordic Metals Corp. has agreed to provide a bridge loan of up to $1 million to Mawson Finland Ltd. in connection with its proposed acquisition of Mawson.
• The loan bears interest at 8% per annum and is due on January 30, 2026, if the acquisition has not closed by then; closing is currently expected in mid-December 2025.
• First Nordic will issue $1 million worth of common shares to Taj Singh as part of his retirement from the CEO role, replacing his participation in previously closed subscription receipt financings.

Key Details

• Bridge Financing: First Nordic agreed to lend Mawson up to $1 million, advanced from time to time as agreed.
• Loan Terms:
  • Interest rate: 8% per annum.
  • Principal and interest are not convertible into Mawson securities.
  • No loan bonus or finders' fees are paid.
  • Due date: January 30, 2026 (if transaction has not closed).
• Use of Proceeds: Payment of transaction-related costs, general working capital, and corporate purposes.
• Transaction Status: Closing of the acquisition is expected in mid-December 2025.
• CEO Retirement/Share Issuance:
  • Taj Singh stepped down as CEO in September 2025.
  • First Nordic will issue $1.0 million of common shares to Mr. Singh.
  • This issuance replaces Mr. Singh's participation in recently closed subscription receipt financings.
  • Deemed price: 38 cents per share.
  • Shares are subject to the TSX-V exchange hold period.
  • Issuance remains subject to TSX-V approval.

Notable Quotes

• None provided in the text.