Announcement • Dec 17

First Nordic Metals Corp. (TSXV:FNM) completed the acquisition of Mawson Finland Limited (TSXV:MFL).

First Nordic Metals Corp. (TSXV:FNM) entered into a definitive arrangement agreement to acquire Mawson Finland Limited (TSXV:MFL) for CAD 73.6 million on September 14, 2025. Pursuant to the terms and conditions of the Arrangement Agreement, the holders of the issued and outstanding Mawson Shares will receive 1.7884 common shares in the capital of NordCo Gold held immediately prior to closing of the Transaction, which exchange will occur on a post-Consolidation basis following a consolidation of the common shares of First Nordic on the basis of four pre-consolidation shares for each one post-consolidation share. Mawson stock options that are outstanding at the effective time of the Transaction will be replaced with options to acquire NordCo Gold Shares. NordCo Gold will continue to be listed on the TSXV in Canada and the Nasdaq First North Growth Market in Sweden. In connection with completion of the Transaction, NordCo Gold is expected to change its name as may be agreed to by the parties. In connection with completion of the Transaction, the Mawson Shares will be de-listed from the TSXV and the Frankfurt Stock Exchange and in connection with closing, Mawson will make an application to cease to be a reporting issuer under Canadian securities laws. Under certain circumstances, if the Arrangement Agreement, is terminated by either party, a reciprocal termination fee of CAD 4.5 million may be payable as further described in the Arrangement Agreement. Additionally, each party is entitled to an expense reimbursement fee in certain circumstances. Upon closing of the Transaction, NordCo Gold’s Board of Directors and management team are expected to include the following persons: Board of Directors: Peter Breese (Chairman), Russell Bradford (CEO & Director), Adam Cegielski (First Nordic nominee), Marc Legault (First Nordic nominee), Noora Ahola (Mawson nominee), Karilyn Farmer (Mawson nominee). Management: Russell Bradford (CEO & Director), Adam Cegielski (President & Director), Gernot Wober (VP Exploration), Noora Ahola (MD, Nordics). In addition, effective immediately, Darren Morcombe has been engaged as a special advisor to First Nordic. The closing of the Transaction is accompanied by the introduction of several veteran industry leaders with proven track records. Incoming Chairman Peter Breese and First Nordic’s new CEO and incoming NordCo Gold Director Russell Bradford have worked together for over two decades and have overseen multiple mine and plant builds and have had several successful transactions. Bradford will become CEO of First Nordic effective immediately and current First Nordic CEO Taj Singh will remain on as a director of First Nordic and special advisor until the merger is closed. The parties have agreed to pay Nuvolari Capital Limited, an arm’s length party, a finder’s fee in connection with completion of the Transaction equal to 3% of the aggregate value of NordCo Gold Shares to be issued to former Mawson shareholders based on the closing price of the First Nordic shares on September 12, 2025. In connection with the Transaction, First Nordic will undertake non-brokered subscription receipt financing to raise CAD 30 million to fund exploration programs across the combined portfolio of NordCo Gold, costs related to the proposed Transaction, and for working capital and general corporate purposes through the sale of up to 78,947,368 subscription receipts. Excluding securities that will be issued in connection with the Concurrent Private Placement and the Bradford Shares, existing shareholders of First Nordic will own approximately twothirds of NordCo Gold’s outstanding shares and existing shareholders of Mawson will own approximately one-third of NordCo Gold’s outstanding shares on an undiluted basis. The Transaction will be carried out by way of a court-approved plan of arrangement under the Business Corporations Act (Ontario) and will require the approval of the Ontario Superior Court of Justice (Commercial List) and the approval by 66% of the votes cast by Mawson shareholders at a meeting of Mawson shareholders to be held no later than early December 2025. Mawson appointed a special committee of independent directors to consider and make a recommendation with respect to the Transaction. Based on the unanimous recommendation of the Mawson special committee of independent directors after receipt by such special committee of a fairness opinion from its advisors, the board of directors of Mawson unanimously determined that the Transaction is in the best interests of Mawson and will recommend that Mawson shareholders vote in favour of the Agreement. The board of directors of First Nordic, following a review of the terms and conditions of the Arrangement Agreement and consideration of a number of factors, including the receipt of a fairness opinion from its advisors, has unanimously determined that the Transaction is in the best interests of First Nordic. In connection with signing of the Arrangement Agreement, certain directors, officers and shareholders of Mawson entered into voting support agreements with First Nordic, agreeing to vote their Mawson Shares in favour of the Transaction at the Mawson Meeting. An aggregate of 5,727,730 Mawson Shares, representing approximately 25.8% of the issued and outstanding Mawson Shares are subject to these voting support agreements. Pursuant to the Arrangement Agreement and subject to satisfying all necessary conditions and receipt of all required approvals, the parties anticipate completion of the Transaction shortly following the Mawson Meeting in December 2025. As of December 4, 2025, Mawson's shareholders approved the transaction and transaction is expected to to occur on or around December 16, 2025. As of December 8, 2025 Ontario Superior Court of Justice approved the transaction. Evans & Evans, Inc. has provided the special committee of the Mawson Board with a fairness opinion in respect of the Transaction. H & P Advisory Limited has provided a fairness opinion to the board of directors of First Nordic. Haywood Securities Inc. acted as financial advisor for First Nordic Metals Corp. Victor Gerchikov of Stikeman Elliott LLP acted as legal advisor for First Nordic Metals Corp. Dennis Peterson of Peterson McVicar LLP acted as legal advisor for Mawson Finland Limited. Mason Law LLP acted as legal advisor for Mawson Finland Limited. Mawson’s transfer agent is Computershare Investor Services Inc. First Nordic and Mawson have appointed Computershare Investor Services Inc. to act as Depositary. First Nordic Metals Corp. (TSXV:FNM) completed the acquisition of Mawson Finland Limited (TSXV:MFL) on December 16, 2025. Upon completion of the Transaction, Mawson Finland Shares are expected to be de-listed from the TSXV on or about markets closing on December 17, 2025. In connection with the Transaction, First Nordic Metals will change its name to Goldsky Resources Corp. Nuvolari Capital Limited has been paid CAD 2.219645, will satisfy payment of such fee through the issuance of 1.403062 million Company Shares.

CEO salary percentage	39.15%
CEO tenure	1.5yrs
CEO ownership	0.4%
Management average tenure	less than a year
Board average tenure	1.2yrs

Date	Total Compensation	Salary	Company Earnings
Mar 31 2026	n/a	n/a	-CA$50m
Dec 31 2025	CA$867k	CA$340k	-CA$28m

Name	Position	Tenure	Compensation	Ownership
Russell Bradford	CEO & Executive Director	1.5yrs	CA$867.08k	0.40% $ 1.6m
Karilyn Farmer	SVP of Exploration & Resource Development and Executive Director	less than a year	no data	no data
Brent Doster	Chief Financial Officer	less than a year	no data	no data
Neil MacRae	SVP of Corporate Development	less than a year	no data	0.24% $ 968.4k
Gernot Wober	Vice President of Exploration	1yr	no data	no data
Noora Ahola	Executive Director & MD of Nordics	less than a year	no data	0.014% $ 57.1k

Name	Position	Tenure	Compensation	Ownership
Russell Bradford	CEO & Executive Director	no data	CA$867.08k	0.40% $ 1.6m
Karilyn Farmer	SVP of Exploration & Resource Development and Executive Director	no data	no data	no data
Noora Ahola	Executive Director & MD of Nordics	less than a year	no data	0.014% $ 57.1k
Jeffrey Couch	Independent Director	1.8yrs	CA$20.00k	no data
Marc Legault	Independent Director	2.4yrs	CA$20.00k	0.034% $ 135.5k
Peter Breese	Independent Non-Executive Chairman	less than a year	no data	no data

Data	Last Updated (UTC time)
Company Analysis	2026/07/14 23:35
End of Day Share Price	2026/07/14 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Jonathan Guy	Hannam & Partners (Advisory) LLP
Jamie Spratt	Haywood Securities Inc.
John Sclodnick	National Bank Financial

Goldsky Resources Management

Management criteria checks 1/4

Key information

Recent management updates

Goldsky Resources Corp., Annual General Meeting, Jun 30, 2026

Goldsky Resources Corp. Announces Appointment of Karilyn Farmer as SVP, Exploration and Resource Development and Stepping Down from the Board, Effective April 21, 2026

First Nordic Metals Corp. Approves Election of Brendan Cahill as Director

First Nordic Metals Corp. Announces CFO Changes

First Nordic Metals Corp., Annual General Meeting, Jun 25, 2025

First Nordic Metals Corp Appoints Henrik Lundin to the Board of Directors

Recent updates

Goldsky Resources Corp., Annual General Meeting, Jun 30, 2026

Goldsky Resources Provides Operational Update on 2026 Drilling Program At Rajapalot Gold-Cobalt Project, Finland

Goldsky Resources Corp. Announces Appointment of Karilyn Farmer as SVP, Exploration and Resource Development and Stepping Down from the Board, Effective April 21, 2026

First Nordic Metals Corp. (TSXV:FNM) completed the acquisition of Nordic Business Unit of EMX Royalty Corporation.

Goldsky Resources Corp. (TSXV:GSKR) entered into a share purchase agreement to acquire 55% stake in Gunnarn Mining AB from Agnico-Eagle AB for approximately $220 million.

Gold Line Resources Corp. Final Drilling Results for Aida 2025 Campaign

First Nordic Metals Corp. (TSXV:FNM) completed the acquisition of Mawson Finland Limited (TSXV:MFL).

First Nordic Metals Corp. announced that it has received CAD 80 million in funding

First Nordic Metals Corp. announced that it expects to receive CAD 30 million in funding

First Nordic Metals Corp. Announces Results to Date (14 of 39 Holes) from Its 2025 Diamond Drill Program At the Aida Target

First Nordic Metals Corp. announced that it has received CAD 15.422011 million in funding

First Nordic Metals Corp. announced that it expects to receive CAD 10 million in funding

First Nordic Metals Corp. Approves Election of Brendan Cahill as Director

First Nordic Metals Corp. (TSXV:FNM) agreed to acquire Nordic Business Unit of EMX Royalty Corporation for 3.25 million SEK.

First Nordic Metals Corp. Confirms Robust Gold-In-Till Anomaly and Reports Encouraging Top-Of-Bedrock Drill Results At Harpsund

First Nordic Metals Corp. Receives Regional Till Gold Assays, Confirming Five New Kilometric-Scale Gold Anomalies at Storjuktan Project

First Nordic Metals Corp. Announces CFO Changes

First Nordic Metals Corp., Annual General Meeting, Jun 25, 2025

First Nordic Metals Corp. to Report Fiscal Year 2024 Final Results on Apr 30, 2025

First Nordic Metals Corp. announced that it has received CAD 1.397516 million in funding

First Nordic Metals Corp. announced that it expects to receive CAD 1.048137 million in funding

First Nordic Metals Corp. Commences First First Diamond Drill Program At the Aida Target, Sweden

First Nordic Metals Corp. Announces Start of Top-Of-Bedrock Drilling Program on Harpsund and Brokojan Targets in Sweden

First Nordic Metals Corp. Announces Results from Its Recently Completed Regional Geochemical Exploration Program on the 100%-Owned Storjuktan Project Area of the Gold Line Belt, Northern Sweden

First Nordic Metals Corp Appoints Henrik Lundin to the Board of Directors

First Nordic Metals Corp. Announces Management Changes

First Nordic Commences Top-Of-Bedrock Drilling Program on Nippas Target, Gold Line Belt, Sweden

First Nordic Metals Corp. announced that it has received CAD 11.500368 million in funding

First Nordic Metals Corp. announced that it expects to receive CAD 10.00032 million in funding

First Nordic Metals Corp. Announces Commences Base-of-Till Drilling Program at Klippen Project on Gold Line Belt, Sweden

First Nordic Metals Corp. Announces Appointment of Jeffery Couch to Its Board of Directors

First Nordic Metals Corp. Advances Exploration Programs at the Storjuktan Project on the Gold Line Belt in Sweden

First Nordic Metals Corp. announced that it has received CAD 8.1768 million in funding from Agnico Eagle Mines Limited

First Nordic Metals Corp. Announces Exploration Program Underway on Gold Line Belt Projects in Sweden

First Nordic Metals Corp. Reports Results from its Recent Belt-Scale Glacial Till Geochemical Survey and Top-Of-Bedrock Drilling Program Targeting Orogenic Gold Mineral Systems at its 100%-Owned Paubacken Project Located in the Gold Line Belt, Northern Sweden

First Nordic Metals Corp. Identifies New Large, Cohesive 5 Km Gold Anomaly At Storjuktan Project, Gold Line Belt, Sweden

First Nordic Metals Corp. Announces Start of 2024 Drilling At Barsele

First Nordic Metals Corp. Announces Board Appointments

First Nordic Metals Corp., Annual General Meeting, Jun 24, 2024

Barsele Minerals Corp. (TSXV:BME) completed the acquisition of Gold Line Resources Ltd. (TSXV:GLDL) for CAD 5.93 million.

Barsele Minerals Corp. (TSXV:BME) entered into an arrangement agreement to acquire Gold Line Resources Ltd. (TSXV:GLDL) for CAD 6.6 million.

Barsele Minerals Corp. Provides an Update Regarding Ongoing Exploration Activities Within the Barsele Gold-VMS Project Area in Västerbottens Län, Northern Sweden

Barsele Minerals Corp. Provides Operational Update Regarding 2022 Exploration Activities

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