In today’s briefing:
- Southern Cross Gold (SXG AU)/Mawson (MAW CN): Hybrid Dual-Listing
Southern Cross Gold (SXG AU)/Mawson (MAW CN): Hybrid Dual-Listing
- On the 11th June, Southern Cross Gold (SXG AU) announced a proposed merger with Mawson Gold (MAW CN). It’s a novel approach to dual-list both companies in Australia and Canada..
- MAW intends to divest all its non-SXG assets, and reduce its shares out to mirror shares held in SXG. Then issue new shares to SXG shareholders on a one-for-one basis.
- Terms are now firmed for what the media calls a “reverse spin-out”, with a Scheme Meeting expected in October, and potential implementation late-October/early-November.
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