Southern Cross Gold Consolidated Announces Strategic Moves and ASX Trading

Southern Cross Gold Consolidated Ltd (SXGC) has completed significant corporate maneuvers, including a spin-out, share consolidation, name change, and subsequent trading commencement on the ASX. The Vancouver-based company finalized the distribution of its uranium assets to SUA Holdings Limited shareholders, making SUA an autonomous entity.

Following this rearrangement, SXGC consolidated its shares from 306 million to approximately 97 million, adjusting stock options accordingly. The company also underwent a name change. Trading of SXGC shares is set to resume on the TSX Venture Exchange and to begin on the Australian Securities Exchange under a new ticker code.

The impending completion of a scheme with Southern Cross Gold Ltd will result in SXGC acquiring full ownership of SXG Shares, thus making SXG a wholly-owned subsidiary of SXGC. This reorganization is subject to final regulatory and court approvals.