- Baden Resources (BDN) has signed a business combination agreement with NorthStar Gaming Inc. for NorthStar to complete a reverse takeover of the company
- When the proposed transaction is completed, the resulting company will operate the business of NorthStar
- NorthStar Gaming owns and operates NorthStar Bets
- Baden Resources Inc. is a mineral exploration company in Canada and the USA
- Baden Resources Inc. opened trading at $0.20 per share
Baden Resources (BDN) has signed a business combination agreement dated June 29, 2022 with NorthStar Gaming.
This agreement allows NorthStar to complete a reverse takeover of the company.
When the proposed transaction is completed, the resulting company will operate the business of NorthStar.
In accordance with the terms of Business Combination Agreement, the parties will complete a three-cornered amalgamation whereby NorthStar will amalgamate with a wholly-owned subsidiary of Baden and the resulting amalgamated company will be a wholly-owned subsidiary of Baden.
NorthStar currently has voting and non-voting common shares and preferred shares outstanding. Prior to the amalgamation, it is anticipated that all of the outstanding NorthStar common shares will be subdivided on a one for 736.68 basis.
In line with the amalgamation, all NorthStar common shares outstanding following the NorthStar share split will be exchanged for common shares of Baden on a one-for-one basis, post-consolidation and the NorthStar preferred shares will be exchanged on a one-for-one basis for preferred shares of Baden.
NorthStar Gaming owns and operates NorthStar Bets, a made-in-Ontario casino and sportsbook gaming platform that provides players with a uniquely local, premier user experience.
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. opened at $0.20 per share.