Southern Cross Gold Consolidated Secures Court Approval for Acquisition

Southern Cross Gold Consolidated Ltd (SXGC) has received the final approval from the Supreme Court of New South Wales for its scheme to acquire all remaining shares of Southern Cross Gold Ltd (SXG) it does not already own. The court's decision, announced on January 14, 2025, marks a crucial step in implementing the arrangement.

The scheme will become legally effective once SXG lodges the court's orders with the Australian Securities and Investments Commission (ASIC). Following this, SXG shares will be suspended from trading on the ASX. SXGC's CDIs are expected to commence trading under the code SX2 on a deferred settlement on January 16.

The critical dates outlined include the scheme's record date on January 17 and the provision of scheme consideration on January 24. The company's shares are set to resume trading on the TSX Venture Exchange under the new ticker symbol "SXGC" on January 15.