on Cerrado Gold Inc. (isin : CA1567881018)
Cerrado Gold Completes Acquisition of Ascendant Resources
On May 20, 2025, Cerrado Gold Inc. announced the completion of its business combination with Ascendant Resources Inc. Through this Arrangement, Cerrado acquired all common shares of Ascendant, making it a wholly owned subsidiary. The transaction was executed under the Ontario Business Corporations Act, following an agreement dated February 3, 2025.
As part of the agreement, Ascendant shareholders will receive 1/7.8th of a Cerrado share per Ascendant share. Cerrado issued a total of 27,721,684 common shares, alongside replacement options and warrants for Ascendant’s securities.
The Ascendant shares will be delisted from the TSX. Ascendant aims to end its public reporting status following this transition. Additionally, Rui Santos from Ascendant's board will join the Cerrado board, bringing extensive experience in mining law.
Further details are available in Ascendant’s management circular dated April 3, 2025, accessible on SEDAR+.
R. E.
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