sur Ascendant Resources, Inc. (CVE:ASND)
Completion of Cerrado Gold and Ascendant Resources Business Combination
Cerrado Gold Inc. and Ascendant Resources Inc. have announced the successful completion of their business combination. Cerrado has acquired all the remaining shares of Ascendant, making Ascendant a wholly-owned subsidiary. This merger, effective from May 16, 2025, allows former shareholders of Ascendant, excluding Cerrado, to receive 1/7.8th of a Cerrado common share for each Ascendant share held.
New financial arrangements have been made, including the issuance of 27,721,684 common shares, 4,903,822 replacement options, and 1,730,601 replacement warrants by Cerrado. Consequently, Ascendant's shares are expected to be de-listed from the TSX shortly. Rui Santos, a seasoned director at Ascendant, joins Cerrado’s board, bringing extensive legal experience in the mining sector.
The merger aims to strengthen operations and expand potential future opportunities. Further details are available in Ascendant's management information circular.
R. P.
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