First Nordic Metals Corp. (TSX-V: FNM) successfully closed its acquisition of Mawson Finland Limited (TSX-V: MFL) on December 16, 2025, creating Goldsky Resources Corp. (subject to final regulatory approvals). The merger consolidates a portfolio of Swedish and Finnish assets, including First Nordic's Barsele Joint Venture (45% with Agnico Eagle), Gold Line Belt projects, and Oijärvi Project, along with Mawson's Rajapalot Project. Combined resources total 2.3 Moz AuEq (0.3 Moz Indicated, 2.0 Moz Inferred), with strong exploration upside across 123,000 hectares and critical mineral exposure through cobalt at Rajapalot.

The transaction was supported by concurrent subscription receipt financings totaling C$80 million, leaving Goldsky with approximately C$86 million in cash before transaction costs. Mawson shareholders received 1.7884 Goldsky shares for each Mawson share. Following the transaction and a 4:1 share consolidation, Goldsky has approximately 176.7 million shares outstanding.

Leadership includes Peter Breese as Chairman, Russell Bradford as CEO, and Darren Morcombe as special advisor. The board comprises Bradford, Breese, Jeff Couch, Marc Legault, Noora Ahola (Managing Director, Nordics), and Karilyn Farmer. Management also includes Rakesh Malhotra (CFO) and Neil MacRae (SVP, Corporate Development).

Legal advisors were Stikeman Elliott LLP (First Nordic) and Peterson McVicar LLP (Mawson). Financial advisors included Desjardins Capital Markets leading the brokered offering.

Mawson shares were de-listed December 17, 2025. Goldsky remains listed on TSXV and Nasdaq First North Growth Market.