Southern Cross Gold's Acquisition and Share Swap Announcement

Southern Cross Gold Ltd (ASX:SXG) has announced its acquisition of two residential holdings and entry into a Share Swap Agreement to acquire all the shares in Sparr Nominees Pty Ltd. The cash cost for the residential holdings is AUD$1.9m, and the consideration for 100% of the shares in Sparr is 22,088,670 shares of SXG. The acquisitions are subject to approval by the Treasurer of Australia and are expected to complete around mid-November 2024.

Executive Commentary on Acquisitions and Share Swap

These agreements secure multiple properties that directly surround the Sunday Creek project together with significant cash. All are critical for securing future pathways for the Sunday Creek project, which is developing into an expanding and significant global gold-antimony discovery.

Summary of Southern Cross Gold's Acquisition and Share Swap

Southern Cross Gold (ASX:SXG) has made significant moves by acquiring two residential holdings and entering into a Share Swap Agreement to acquire all the shares in Sparr Nominees Pty Ltd. The acquisitions are aimed at securing future pathways for the Sunday Creek project, which is developing into an expanding and significant global gold-antimony discovery. The company's ambitions and goals are reflected in these strategic acquisitions, which are subject to approval by the Treasurer of Australia and expected to complete around mid-November 2024.