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Mawson Announces Signing of Arrangement Agreement for The Spin Out of Uranium Assets in Sweden and Announces Shareholder Meeting Date
VANCOUVER, BC / ACCESSWIRE / September 18, 2024 / Mawson Gold Limited ("Mawson" or the "Compa...
About this update from Southern Cross Gold Consolidated Ltd.
[{"type":"text","content":"Mawson Announces Signing of Arrangement Agreement for The Spin Out of Uranium Assets in Sweden and Announces Shareholder Meeting DateVANCOUVER, BC / ACCESSWIRE / September 18, 2024 / Mawson Gold Limited(\"Mawson\" or the \"Company\") (TSXV:MAW)(Frankfurt:MXR)(OTC PINK:MWSNF) is pleased to announce that further to its news releases dated June 10, 2024 and July 30, 2024, Mawson has entered into an arrangement agreement (the \"Arrangement Agreement\") with SUA Holdings Ltd. (\"SUA\"), a newly formed wholly-owned subsidiary of Mawson, pursuant to which the Company proposes to spin-out its uranium assets in Sweden (the \"Uranium Assets\") to SUA in consideration for common shares of SUA (\"SUA Common Shares\") and distribute 100% of the SUA Common Shares it then holds to the Mawson shareholders on a pro rata basis. As a result, following completion of the Arrangement, the Mawson shareholders (other than any dissenting shareholders) will also become shareholders of SUA and SUA will no longer be a subsidiary of Mawson.In connection with the Arrangement, Mawson has subscribed for additional SUA Common Shares for aggregate consideration of $600,000 to provide working capital to SUA. Such additional SUA Common Shares will also be distributed to the Mawson shareholders under the Arrangement.Pursuant to the Arrangement and subject to the terms and conditions contained in the Arrangement Agreement, each Mawson shareholder as of the closing date of the Arrangement (the \"Effective Time\") will receive one SUA Common Share for each common share of the Company (post-Consolidation (as hereinafter defined)) (the \"New Mawson Shares\").To be effective, the Arrangement must be approved by a special resolution passed by at least 66 2/3% of the votes cast by Mawson shareholders present in person or represented by proxy at the annual and special meeting of shareholders (the \"Meeting\") to be held on Thursday, November 7, 2024, in Vancouver, British Columbia. It is anticipated that the record date for the Meeting (the \"Record Date\") will be October 1, 2024.The Arrangement is subject to, among other matters, TSX Venture Exchange (\"TSXV\") and court approval in British Columbia. Additional information regarding the Arrangement will be provided in the management information circular of the Company (the \"Circular\") that will be mailed to Mawson share...