Cygnus shares to stop trading imminently on TSX-V and ASX as Central Asia merger concludes
TSX-V- and ASX-listed Cygnus Metals has garnered regulatory approval in Kazakhstan for its proposed merger with Aim-listed Central Asia Metals.
Cygnus, which is being acquired by Central Asia in an all-share transaction valued at A$232-million, anticipates that the remaining conditions precedent to the scheme between the companies will be satisfied or waived prior to a second court hearing - scheduled for October 14.
Cygnus expects its shares to stop trading on October 14 and 15, respectively, on the TSX-V and ASX.
Cygnus shareholders receive 0.06 new Central Asia shares for each Cygnus share held. Existing Central Asia shareholders will own about 70% of the enlarged company while Cygnus shareholders will hold the balance.
Cygnus' flagship asset is the Chibougamau copper and gold project in Québec, while Central Asia produces copper, zinc and lead from operations in Kazakhstan and North Macedonia.
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