Southern Cross Gold Ltd has entered into an agreement to acquire land

Southern Cross Gold Ltd (ASX: SXG) announced it is making strategic moves by acquiring two residential holdings from independent third parties and entering into a Share Swap Agreement to acquire all the shares in Sparr Nominees Pty Ltd. Sparr holds substantial agricultural properties and boasts approximately AUD$18.75 million in cash. Additionally, the company is developing the two residential holdings at a cash cost of AUD$1.9 million. In exchange for 100% of the shares in Sparr, Southern Cross Gold Ltd will issue 22,088,670 shares of SXG. Notably, issuing these SXG shares can be done without approval from SXG shareholders. The current owner and seller of Sparr, Darren Morcombe, will become a significant shareholder of SXG after the transaction closes.

These strategic agreements secure multiple properties that directly surround the Sunday Creek project and provide a substantial cash infusion. These assets are crucial for unlocking a myriad of future opportunities for the Sunday Creek project, which is rapidly evolving into a significant global gold-antimony discovery. The future looks promising for Southern Cross Gold Ltd, and these acquisitions are key milestones in the company's growth and success.

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