Court Approval for Acquisition

Southern Cross Gold (ASX:SXG) has announced that the Supreme Court of New South Wales has approved the convening of a Scheme Meeting and the distribution of a Scheme Booklet. This approval is a significant step in the proposed scheme of arrangement where Mawson Gold Limited will acquire all remaining shares in Southern Cross Gold that it does not already own.

Overview and Future Outlook

Southern Cross Gold (ASX:SXG) has received court approval to proceed with a Scheme Meeting related to Mawson Gold Limited's acquisition of all remaining shares in SXG. The acquisition will result in SXG becoming a wholly owned subsidiary of Mawson, with shareholders receiving Mawson shares or CHESS Depositary Interests on a 1-for-1 basis post-consolidation. The Scheme Booklet, including an independent expert report, will be dispatched in mid-November 2024. Shareholders are encouraged to review the booklet thoroughly and participate in the voting process. This acquisition aims to consolidate ownership and streamline operations under Mawson Gold Limited's management.

Executive Commentary on Scheme Approval

The independent SXG Board Committee unanimously recommends shareholders vote in favor of the Scheme, barring a superior proposal. Excluded Shareholders, including Mawson, will not participate in the vote.