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Ascendant Resources Inc ( (TSE:ASND) ) has provided an update.
Ascendant Resources Inc. has announced a definitive agreement with Cerrado Gold Inc. for a business combination, where Cerrado will acquire all outstanding shares of Ascendant. This acquisition offers Ascendant shareholders a premium on their shares and provides the combined entity with a strong cash position, reduced equity dilution, and diversified asset risk. The transaction is structured to include debt absorption and conversion, ensuring continued advancement of key projects such as the Lagoa Salgada Project. Upon completion, existing Cerrado and Ascendant shareholders will own roughly 79% and 21% of the merged entity, respectively, with the combined company continuing under the Cerrado Gold Inc. name.
More about Ascendant Resources Inc
Ascendant Resources Inc. is a company involved in the mining industry, focusing on the development and production of mineral resources. The company primarily engages in advancing projects like the Lagoa Salgada Project and deals with commodities such as gold, providing exposure to the financial benefits of gold production.
YTD Price Performance: 20.0%
Average Trading Volume: 85,764
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$11.07M
Learn more about ASND stock on TipRanks’ Stock Analysis page.
