On June 29, 2023, Catalyst Metals Limited, an Australian issuer listed on the Australian Securities Exchange, acquired Superior Gold Inc., a Canadian issuer listed on the TSX Venture Exchange. Superior Gold’s principal asset is the historic Plutonic Gold Mine in Western Australia.
Under the terms of the transaction, each shareholder of Superior Gold received 1 ordinary share of Catalyst Metals for each 2.80 Superior Gold common shares held, for a total transaction value of approximately $29.1 million based on current prices. The transaction occurred pursuant to a Court and shareholder approved plan of arrangement under the Ontario Business Corporations Act.
Cassels acted as Canadian counsel to Catalyst Metals.