SXG Moves Forward with Key Acquisitions

Mawson Gold Limited announced that Southern Cross Gold Ltd. (SXG) plans to acquire two residential properties and the entirety of Sparr Nominees Pty Ltd. Sparr possesses significant agricultural properties and AUD$18.75 million in cash near the Sunday Creek Project. The acquisition of the residential holdings will cost SXG AUD$1.9 million, while 22,088,670 SXG shares will be issued for Sparr, not requiring shareholder approval.

Darren Morcombe, the current owner of Sparr, will become a substantial SXG shareholder post-transaction. These deals await approval from the Treasurer of Australia and are expected to complete by mid-November 2024.

Mawson currently holds 48.67% of SXG shares; post-acquisition, this is projected to adjust to 43.80%. CEO Michael Hudson emphasized the importance of these acquisitions for the future of the Sunday Creek Project, a growing gold-antimony discovery.