Southern Cross Gold Consolidated (ASX:SX2) will begin trading on the Australian Securities Exchange (ASX) today at 3pm AEDT on a deferred settlement basis.
The new shares will be settled in the form of CHESS Depositary Interests (CDIs) at a 1:1 ratio.
This news comes after the dual-listed gold explorer changed its name from Southern Cross Gold earlier this month following forming a merger with Mawson Gold (TSX-V:MAW), which is expected to be completed by 28 January 2025.
The company recently consolidated its shares, and resumed trading on the TSX Venture Exchange on a post-consolidated basis on 15 January, under the new ticker symbol ‘SXGC’.
“This dual listing structure provides enhanced market access and trading flexibility for our shareholders across both the Australian and Canadian markets,” CEO Michael Hudson says.
“The successful implementation of the scheme of arrangement with Southern Cross Gold will create a stronger, more dynamic company with improved market presence.
“We look forward to engaging with our expanded shareholder base and continuing to deliver value through our strategic initiatives. Our listing on the ASX positions us well to capitalise on opportunities in the Australian market while maintaining our strong presence in North America.”
Southern Cross Gold Consolidated controls the Sunday Creek Gold-Antimony Project in Melbourne, Victoria. The project is considered to have strategic value enhanced by its dual-metal profile, with antimony contributing 20% of the in-situ value alongside gold.
Write to Aaliyah Rogan at Mining.com.au
Images: Southern Cross Gold
