Southern Cross Gold Ltd has signed a non-binding term sheet with Mawson Gold Ltd

Southern Cross Gold Ltd (ASX: SXG) has signed a Non-Binding Term Sheet with Mawson Gold Ltd of Canada to merge the companies through an Australian scheme of arrangement transaction. The proposal to simplify SXG's corporate structure and to obtain a dual listing in Canada is a step towards a brighter future.

The more straightforward, dual-listed structure will open new opportunities to achieve the following core objectives and access to broader capital markets and institutional/private investors, eliminate a perceived significant shareholder overhang, and attract an expected lower cost of equity capital. This optimistic move will allow the Sunday Creek Project to continue its path to development.

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