🇫🇮 First Nordic and Mawson complete merger to create a leading nordic-focused gold development and exploration company

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TORONTO, Canada, December 16, 2025 — First Nordic Metals Corp. (TSX-V: FNM, FNSE: FNMC SDB, OTCQX: FNMCF, FRA: HEG0) (“First Nordic” or the “Company”) and Mawson Finland Limited (“Mawson”) (TSX-V: MFL, FRA: PM6) are pleased to announce the successful closing of the previously announced acquisition by First Nordic of all of the issued and outstanding common shares of Mawson (the “Mawson Shares”) by way of a court-approved plan of arrangement under the Business Corporations Act (Ontario) (the “Transaction”).

The Transaction, which became effective as of today’s date, consolidates a large and prospective gold development and exploration portfolio in Sweden and Finland, including First Nordic’s Barsele Project, a joint venture with Agnico Eagle Mines Limited (“Barsele” or the “Barsele Project”) and its Gold Line Belt projects in northern Sweden and Oijärvi Project in Finland, and Mawson’s Rajapalot Project and surrounding Rompas-Rajapalot Property in northern Finland.

The closing of the Transaction follows the completion of the consolidation of First Nordic’s common shares (the “Company Shares”) on the basis of four (4) pre-consolidation shares for one (1) post-consolidation share, which became effective on December 10, 2025 (the “Consolidation”). All amounts and share numbers referenced in this release are presented on a post-Consolidation basis.

In connection with the Transaction, the Company will change its name to Goldsky Resources Corp. (“Goldsky”), subject to receipt of the approval of the TSX Venture Exchange (the “TSXV”) and completion of the required corporate and regulatory filings (the “Name Change”). The Company will issue a press release in the coming days with additional details on the Name Change.

As a result of completion of the Transaction, the Company also received funds from the escrow agent on conversion of the subscription receipts into Company Shares in connection with the previously announced non-brokered and brokered subscription receipt financings for aggregate gross proceeds of C$80 million (the “Concurrent Offerings”). The funds will be used to fund exploration programs across the combined Goldsky portfolio, costs related to the Transaction, and for working capital and general corporate purposes.

    Transaction highlights

    Creating the leading Nordic gold developer and explorer, with a combined group total of 2.0 Moz AuEq¹ in Inferred and 0.3 Moz AuEq¹ in Indicated attributable resource categories.

    The portfolio includes multiple high-quality assets positioned to achieve near-term development and exploration milestones, including Barsele (45 % JV ownership); Rajapalot (100 % ownership); and Oijärvi (100 % owned), with a combined land position of over 123,000 hectares with existing mineral resources and strong exploration potential.

    Combined & enhanced management & board includes established mine builders with permitting & capital markets expertise, and is backed by a proven & renowned special advisor.

    Significant leverage with combined experience across various stages of projects, from early-stage grassroots exploration through to development and production.

    Well capitalized to achieve near-term exploration catalysts and other corporate initiatives.

    Strategically positions the Goldsky portfolio for potential further acquisition and consolidation opportunities across the region.

    Originally published on 16 December 2025 by First Nordic Metals.

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