- Baden Resources (BDN) has signed a non-binding letter of intent with NorthStar Gaming concerning a proposed reverse takeover of Baden by NorthStar
- NorthStar owns and operates NorthStar Bets, a casino and sportsbook gaming platform
- Baden will acquire all of the outstanding shares of NorthStar in exchange for shares of Baden
- It is also a condition to completion of the proposed transaction that Baden delist from the CSE and obtain conditional approval to list on the TSX Venture Exchange
- Baden Resources Inc. is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in Canada and the USA
- Baden Resources Inc. was unchanged at $0.20 at 11:12 ET
Baden Resources (BDN) has signed a non-binding letter of intent with NorthStar Gaming concerning a proposed reverse takeover of Baden by NorthStar.
NorthStar owns and operates NorthStar Bets, a made-in-Ontario casino and sportsbook gaming platform.
In connection with the proposed transaction, it is proposed that Baden would acquire, in line with a three-cornered amalgamation or other structure mutually agreed by the parties, all of the outstanding shares of NorthStar in exchange for shares of Baden.
Before the completion of the proposed transaction, Baden would complete a share consolidation (at a ratio to be determined) and NorthStar would complete an offering of subscription receipts.
Completion of the proposed transaction remains subject to a number of conditions, including the negotiation of definitive documentation by June 27, 2022, the receipt of any required regulatory approvals and completion of the concurrent offering.
It is also a condition to completion of the proposed transaction that Baden delist from the CSE and obtain conditional approval to list on the TSX Venture Exchange.
There is no assurance that the proposed transaction will be completed on the terms set out in the LOI, or at all.
Baden Resources Inc. is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in Canada and the USA.
Baden Resources Inc. was unchanged at $0.20 at 11:12 ET.