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SXG Enters Agreement to Acquire Land

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Mawson Gold announces that Southern Cross Gold (SXG) intends to acquire two residential holdings for AUD$1.9m and 100% of Sparr Nominees Pty . Sparr holds substantial agricultural properties near the Sunday Creek Project and approximately AUD$18.75m in cash. The Sparr acquisition involves a share swap of 22,088,670 SXG ordinary shares. These acquisitions are subject to Foreign Investment Review Board (FIRB) approval, expected to complete around mid-November 2024. Post-acquisition, Mawson's ownership in SXG is expected to decrease from 48.67% to approximately 43.80%. The agreements are important for securing future pathways for the Sunday Creek Project, which is developing into a significant global gold-antimony discovery.

Mawson Gold annuncia che Southern Cross Gold (SXG) intende acquisire due proprietà residenziali per AUD$1,9 milioni e il 100% di Sparr Nominees Pty. Sparr possiede sostanziali proprietà agricole vicino al Sunday Creek Project e circa AUD$18,75 milioni in contante. L'acquisizione di Sparr prevede uno scambio di azioni di 22.088.670 azioni ordinarie SXG. Queste acquisizioni sono soggette all'approvazione del Foreign Investment Review Board (FIRB), che si prevede si completino intorno a metà novembre 2024. Dopo l'acquisizione, la partecipazione di Mawson in SXG dovrebbe diminuire dal 48,67% a circa 43,80%. Gli accordi sono importanti per garantire future opportunità per il Sunday Creek Project, che sta evolvendo in una scoperta significativa di oro-antimonio a livello globale.

Mawson Gold anuncia que Southern Cross Gold (SXG) tiene la intención de adquirir dos propiedades residenciales por AUD$1.9 millones y el 100% de Sparr Nominees Pty. Sparr posee propiedades agrícolas sustanciales cerca del Sunday Creek Project y aproximadamente AUD$18.75 millones en efectivo. La adquisición de Sparr implica un intercambio de acciones de 22.088.670 acciones ordinarias de SXG. Estas adquisiciones están sujetas a la aprobación del Foreign Investment Review Board (FIRB), que se espera se complete alrededor de mediados de noviembre de 2024. Tras la adquisición, la propiedad de Mawson en SXG se espera que disminuya del 48.67% a aproximadamente 43.80%. Los acuerdos son importantes para asegurar futuros caminos para el Sunday Creek Project, que se está convirtiendo en un descubrimiento significativo de oro-antimonio a nivel mundial.

마우슨 골드사우던 크로스 골드 (SXG)AUD$1.9백만에 두 개의 주거용 부동산과 Sparr Nominees Pty의 100%를 취득할 계획이라고 발표했습니다. Sparr는 썬데이 크릭 프로젝트 근처에 상당한 농업 자산을 보유하고 있으며, 약 AUD$18.75백만의 현금을 보유하고 있습니다. Sparr의 인수는 22,088,670 SXG 보통주의 주식 교환을 포함합니다. 이러한 인수는 외국인 투자 심사 위원회(FIRB)의 승인을 받게 되며, 2024년 11월 중순에 완료될 것으로 예상됩니다. 인수 후, SXG에서의 마우슨의 소유권48.67%에서 약 43.80%로 감소할 것으로 예상됩니다. 이러한 계약들은 썬데이 크릭 프로젝트의 미래 경로를 확보하는데 중요한 역할을 하며, 이는 전 세계적인 금-안티몬 발견으로 발전하고 있습니다.

Mawson Gold annonce que Southern Cross Gold (SXG) a l'intention d'acquérir deux biens résidentiels pour AUD$1,9 million et 100% de Sparr Nominees Pty. Sparr détient des biens agricoles substantiels près du Sunday Creek Project et environ AUD$18,75 millions en espèces. L'acquisition de Sparr implique un échange d'actions de 22.088.670 actions ordinaires SXG. Ces acquisitions sont soumises à l'approbation du Foreign Investment Review Board (FIRB), dont la finalisation est prévue pour mi-novembre 2024. Après l'acquisition, la part de Mawson dans SXG devrait diminuer de 48,67% à environ 43,80%. Ces accords sont importants pour garantir de futures opportunités pour le projet Sunday Creek, qui se développe pour devenir une découverte significative d'or-antimoine à l'échelle mondiale.

Mawson Gold gibt bekannt, dass Southern Cross Gold (SXG) beabsichtigt, zwei Wohnimmobilien für AUD$1,9 Millionen und 100% von Sparr Nominees Pty zu erwerben. Sparr besitzt erhebliche landwirtschaftliche Grundstücke in der Nähe des Sunday Creek Projects und etwa AUD$18,75 Millionen in bar. Der Erwerb von Sparr beinhaltet einen Aktientausch von 22.088.670 SXG-Stammaktien. Diese Akquisitionen unterliegen der Genehmigung durch die Foreign Investment Review Board (FIRB), deren Abschluss für etwa Mitte November 2024 erwartet wird. Nach der Akquisition wird der Anteil von Mawson an SXG voraussichtlich von 48,67% auf etwa 43,80% sinken. Die Vereinbarungen sind wichtig, um zukünftige Wege für das Sunday Creek Project zu sichern, das sich zu einem bedeutenden globalen Gold-Antimon-Fund entwickelt.

Positive
  • Acquisition of strategic properties surrounding the Sunday Creek Project
  • Gain of approximately AUD$18.75m in cash through Sparr acquisition
  • Potential for expanded development opportunities at Sunday Creek Project
  • No SXG shareholder approval required for share issuance
Negative
  • Dilution of Mawson Gold's ownership in SXG from 48.67% to 43.80%
  • Cash outlay of AUD$1.9m for residential holdings
  • Acquisitions subject to FIRB approval, introducing regulatory uncertainty

VANCOUVER, BC / ACCESSWIRE / October 4, 2024 / Mawson Gold Limited ("Mawson" or the "Company") (TSXV:MAW)(Frankfurt:MXR)(OTC PINK: MWSNF) announces Southern Cross Gold Ltd. ("Southern Cross Gold" or "SXG") has announced it intends to acquire two residential holdings from arm's length third parties and has also entered into a Share Swap Agreement to acquire 100% of the shares of Sparr Nominees Pty Ltd "Sparr"). Sparr holds substantial agricultural properties in and around the Sunday Creek Project and approximately AUD$18.75m in cash.

SXG is acquiring the two residential holdings at a cash cost of AUD$1.9m. Consideration for 100% of the shares in Sparr is 22,088,670 ordinary shares of SXG. SXG has advised that the issue of these SXG shares does not require SXG shareholder approval. The current owner and seller of Sparr is Darren Morcombe, who post-closing of the transaction will become a substantial shareholder of SXG.

The purchase of the two residential properties and transactions contemplated in the Share Swap Agreement is subject to approval by the Treasurer of Australia (i.e. Foreign Investment Review Board ("FIRB") approval). Subject to obtaining FIRB approval, SXG expects the acquisitions to complete around mid-November 2024.

Mawson currently owns 96,590,910 or 48.67% of issued SXG ordinary shares. Subject to successful completion of these acquisitions, Mawson is expected to own approximately 43.80% of the issued SXG ordinary shares.

Michael Hudson, Mawson Interim CEO and Executive Chairman, states: "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."

About Mawson Gold Limited (TSXV:MAW, FRANKFURT:MXR, OTCPINK:MWSNF)

Mawson Gold Limited has distinguished itself as a leading Nordic exploration company. Over the last decades, the team behind Mawson has forged a long and successful record of discovering, financing, and advancing mineral projects in the Nordics and Australia. Mawson holds the Skellefteå North gold discovery and a portfolio of historic uranium resources in Sweden. Mawson also holds 48.67% of Southern Cross Gold Ltd. (ASX: SXG) which owns or controls two high-grade, historic epizonal goldfields in Victoria, Australia, including the exciting Sunday Creek Au-Sb discovery.

About Southern Cross Gold Ltd (ASX:SXG)

Southern Cross Gold holds the 100%-owned Sunday Creek Project in Victoria and Mt Isa Project in Queensland, the Redcastle joint venture in Victoria, Australia, and a strategic 6.7% holding in ASX-listed Nagambie Resources Limited (ASX: NAG) which grants SXG a Right of First Refusal over a 3,300 square kilometer tenement package held by NAG in Victoria.

On behalf of the Board,

"Michael Hudson"
Michael Hudson, Interim CEO and Executive Chairman

Further Information
www.mawsongold.com
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), Corporate Secretary
+1 (604) 685 9316i
nfo@mawsongold.com

Forward-Looking Statement

This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate, and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, Mawson's expectations regarding its ownership interest in Southern Cross Gold, capital and other costs varying significantly from estimates, changes in world metal markets, changes in equity markets, the potential impact of epidemics, pandemics or other public health crises on the Company's business, risks related to negative publicity with respect to the Company or the mining industry in general; exploration potential being conceptual in nature, there being insufficient exploration to define a mineral resource on the Australian-projects owned by SXG, and uncertainty if further exploration will result in the determination of a mineral resource; planned drill programs and results varying from expectations, delays in obtaining results, equipment failure, unexpected geological conditions, local community relations, dealings with non-governmental organizations, delays in operations due to permit grants, environmental and safety risks, and other risks and uncertainties. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: Mawson Gold Limited



View the original press release on accesswire.com

FAQ

What is the value of the residential holdings SXG is acquiring?

SXG is acquiring two residential holdings at a cash cost of AUD$1.9 million.

How many SXG shares are being issued for the Sparr acquisition?

SXG is issuing 22,088,670 ordinary shares as consideration for 100% of the shares in Sparr Nominees Pty

What assets does Sparr Nominees Pty hold?

Sparr holds substantial agricultural properties in and around the Sunday Creek Project and approximately AUD$18.75 million in cash.

When is the expected completion date for SXG's acquisitions?

Subject to obtaining FIRB approval, SXG expects the acquisitions to complete around mid-November 2024.

How will these acquisitions affect Mawson Gold's ownership in SXG?

Mawson Gold's ownership in SXG is expected to decrease from 48.67% to approximately 43.80% upon successful completion of the acquisitions.

What is the stock symbol for Mawson Gold on the OTC market?

Mawson Gold trades under the symbol MWSNF on the OTC Pink market.

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