on Ascendant Resources, Inc. (isin : CA0435041094)
Ascendant Resources Shareholders Approve Acquisition by Cerrado Gold
Ascendant Resources Inc. announced that its shareholders have voted overwhelmingly in favor of the acquisition plan by Cerrado Gold Inc. and the second tranche of a private placement with Sprott Private Resources. The special meeting held in Toronto saw 100% of shareholders endorsing the arrangement with Cerrado Gold, which involves the exchange of Ascendant's common shares for Cerrado's shares. Additionally, 99.99% of the votes approved the Sprott Resolution, allowing Sprott to increase its stake in Ascendant beyond 20%.
About 50.52% of Ascendant's issued shares were represented at the meeting. The Plan of Arrangement awaits a final court order set for May 13, 2025, to proceed. Upon successful conclusion, Ascendant expects the delisting of its shares from the Toronto Stock Exchange shortly after May 16, 2025.
The transaction marks a significant step for Ascendant, potentially boosting Cerrado Gold's portfolio and opportunities for exploration and development in mining.
R. H.
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