Southern Cross Gold Ltd. (AU:SXG) has released an update.
Southern Cross Gold Ltd has announced a non-binding term sheet for a merger with Mawson Gold Ltd, creating a dual-listed entity on both the ASX and TSXV. This strategic move is set to simplify corporate structures and provide access to broader capital markets, with the aim of reducing equity capital costs and advancing the development of the Sunday Creek Project. Shareholders of Southern Cross Gold Ltd are expected to own approximately 50.4% of the new entity, which promises operational, tax, and shareholder benefits, while the current Australian Board and Management Team will continue to lead the new merged group.
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