Business
Dixie Gold Inc. Initiates Lawsuit Against Omnia Metals Group Ltd., Provides Related Notice to Market Regarding Takeover Transaction
(TheNewswire) Vancouver, British Columbia – TheNewswire - March 4, 2024 ...
About this update from Dixie Gold Inc.
[{"type":"text","content":"Dixie Gold Inc. Initiates Lawsuit Against Omnia Metals Group Ltd., Provides Related Notice to Market Regarding Takeover Transaction\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia –\n \n \n TheNewswire -\n \n \n March 4, 2024 – Dixie Gold Inc.\n \n \n (TSX VENTURE: DG) (“\n \n \n Dixie Gold\n \n \n ” or the\n“\n \n \n Corporation”\n \n \n ) reports legal event related to its previously announced\ntransaction (the “Takeover Transaction”) with ASX-listed Omnia\nMetals Group Ltd. (“Omnia”) under which\n \n \n Omnia made binding terms to acquire 100 per cent of the\nissued and outstanding common shares of the Corporation under written\nexecuted agreement dated October 24, 2023 (the\n“Agreement”)\n \n \n , and see the corresponding news\nrelease disclosures filed by the Corporation therewith (Dixie Gold\nInc. Announces Friendly-Takeover by Omnia Metals Group Ltd. dated\nOctober 27, 2023, and Dixie Gold Inc. - Disclosure Update to\nPreviously Announced Takeover Transaction dated December 28, 2023, and\nDixie Gold Inc. - Disclosure Update #2 to Previously Announced\nTakeover Transaction dated January 22, 2024).\n \n \n \n \n Filing of Statement of Claim\n \n \n \n \n The Corporation (as Plaintiff) reports that it has\nfiled a Statement of Claim (the “Claim”) against Omnia (as\nDefendant), as generally, without limitation, relates to the Agreement\nand the Takeover Transaction.\n \n \n \n \n The Claim was filed after market-close on March 1,\n2024\n \n \n at the Supreme Court of British Columbia\n(Vancouver Registry), Court File No. VLC-S-S-241442.\n \n \n \n \n As more particularly set out, without limitation, in\nthe Claim: (1) Omnia claims that it has not been able to raise funds\nrepresented as having firm commitment in the Agreement and Omnia\nasserts that it cannot successfully complete a capital raise related\nto the Takeover Transaction, and (2) Omnia claims to have identified\nshareholders of Omnia who would block approval of the Takeover\nTransaction at an Omnia shareholder meeting (despite such formal Omnia\nshareholder meeting relating to the Takeover Transaction having not\nbeen held).\n \n \n \n \n Despite efforts by the Corporation preceding the Claim,\nOmnia refused to furt...