Latest news with #Cth
Cision Canada
30-05-2025
- Business
- Cision Canada
Bastion Mining Pte. Ltd. Acquires Ordinary Shares of Xanadu Mines Limited
SINGAPORE, May 29, 2025 /CNW/ - This news release is issued by Bastion Mining Pte. Ltd. (" Bastion") pursuant to the early warning requirements of Canada's National Instrument 62-104 and National Instrument 62-103 with respect to ordinary shares of Xanadu Mines Limited (the " Issuer"). Bastion announces that it has completed an arm's length private placement financing with the Issuer for A$17.2 million (the " Financing"). Pursuant to the Financing, Bastion was issued 286,829,633 ordinary shares of the Issuer (each, an " Ordinary Share") at an issuance price of A$0.06 per Ordinary Share. The Financing was completed in connection with an off-market bid publicly announced by Bastion on May 19, 2025 under Chapter 6 of the Corporations Act 2001 (Cth) (Australia) to acquire all of the Ordinary Shares in Xanadu (the " Offer") for the purposes of assisting the Issuer with meeting its corporate and joint venture funding obligations during the Offer period. Subject to the terms of the Offer, Xanadu shareholders will receive A$0.08 cash for each Ordinary Share in Xanadu held by Xanadu shareholders as at 7:00 p.m. (Australian Eastern Standard Time) on May 26, 2025. The Offer opened on May 28, 2025 and is scheduled to close at 7:00 p.m. (Australian Eastern Standard Time) on July 1, 2025 unless extended or withdrawn. Immediately prior to the Financing, Bastion had beneficial ownership and control over nil Ordinary Shares of the Issuer. Upon completion of the Financing, Bastion acquired beneficial ownership and control over 286,829,633 Ordinary Shares representing approximately 12.52% of the issued and outstanding Ordinary Shares of the Issuer on completion (on a non-diluted basis). Bastion acquired the Ordinary Shares for investment purposes. Bastion is controlled by Boroo Pte Ltd. (" Boroo") who holds 75% of Bastion's issued ordinary share capital. Boroo is a private Singapore-incorporated entity which invests in major gold projects internationally. The remaining non-controlling 25% of Bastion's issued ordinary share capital is held by the Issuer's director Ganbayar Lkhagvasuren. For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial and territorial securities legislation in connection with the Financing, please go to the Issuer's profile on the SEDAR+ website ( or contact Phillip Tan at [email protected]. Bastion has its registered office at 9 Straits View, #05-09, Marina One West Tower, Singapore, 018937.
Yahoo
30-05-2025
- Business
- Yahoo
Bastion Mining Pte. Ltd. Acquires Ordinary Shares of Xanadu Mines Limited
SINGAPORE, May 29, 2025 /CNW/ - This news release is issued by Bastion Mining Pte. Ltd. ("Bastion") pursuant to the early warning requirements of Canada's National Instrument 62-104 and National Instrument 62-103 with respect to ordinary shares of Xanadu Mines Limited (the "Issuer"). Bastion announces that it has completed an arm's length private placement financing with the Issuer for A$17.2 million (the "Financing"). Pursuant to the Financing, Bastion was issued 286,829,633 ordinary shares of the Issuer (each, an "Ordinary Share") at an issuance price of A$0.06 per Ordinary Share. The Financing was completed in connection with an off-market bid publicly announced by Bastion on May 19, 2025 under Chapter 6 of the Corporations Act 2001 (Cth) (Australia) to acquire all of the Ordinary Shares in Xanadu (the "Offer") for the purposes of assisting the Issuer with meeting its corporate and joint venture funding obligations during the Offer period. Subject to the terms of the Offer, Xanadu shareholders will receive A$0.08 cash for each Ordinary Share in Xanadu held by Xanadu shareholders as at 7:00 p.m. (Australian Eastern Standard Time) on May 26, 2025. The Offer opened on May 28, 2025 and is scheduled to close at 7:00 p.m. (Australian Eastern Standard Time) on July 1, 2025 unless extended or withdrawn. Immediately prior to the Financing, Bastion had beneficial ownership and control over nil Ordinary Shares of the Issuer. Upon completion of the Financing, Bastion acquired beneficial ownership and control over 286,829,633 Ordinary Shares representing approximately 12.52% of the issued and outstanding Ordinary Shares of the Issuer on completion (on a non-diluted basis). Bastion acquired the Ordinary Shares for investment purposes. Bastion is controlled by Boroo Pte Ltd. ("Boroo") who holds 75% of Bastion's issued ordinary share capital. Boroo is a private Singapore-incorporated entity which invests in major gold projects internationally. The remaining non-controlling 25% of Bastion's issued ordinary share capital is held by the Issuer's director Ganbayar Lkhagvasuren. For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial and territorial securities legislation in connection with the Financing, please go to the Issuer's profile on the SEDAR+ website ( or contact Phillip Tan at Bastion has its registered office at 9 Straits View, #05-09, Marina One West Tower, Singapore, 018937. SOURCE Bastion Mining Pte. Ltd. View original content: Sign in to access your portfolio
Perth Now
20-05-2025
- Health
- Perth Now
State sued over 28 years of racism claim
Queensland Health have been hit with a class action over allegations of racial discrimination that claim Aboriginal and Torres Strait Islander people received inadequate healthcare spanning three decades. The class action alleges First Nations people were withheld or denied adequate treatment, had their concerns dismissed and received substandard medical care, which was unlawful and breached the Racial Discrimination Act 1975 (Cth). Litigators JGA Saddler filed the class action on Tuesday on behalf of Aboriginal and Torres Strait Islander people who were subject to discriminatory conduct by the North West and Torres and Cape Hospital and Health Services between 1996 and 2024. JGA Saddler director Rebecca Jancauskas said the state of Queensland needed to be held accountable for systematic racism experienced by Aboriginal and Torres Strait Islander people in the public health system. Photo: Supplied. Credit: Supplied JGA Saddler director Rebecca Jancauskas said the state needed to be held accountable for systematic practices that resulted in Aboriginal and Torres Strait Islander people who interacted with certain healthcare providers in Queensland receiving a lower standard of healthcare. 'We've heard heartbreaking stories of First Nations patients being ignored, misdiagnosed, or dismissed in ways that would simply not happen to other Australians,' she said. 'This case is about ensuring those voices are heard, and change is made. 'No one should be treated differently in our hospitals because of their race.' Litigators JGA Saddler filed the class action on Tuesday on behalf of Aboriginal and Torres Strait Islander people who were subject to discriminatory conduct by the North West and Torres and Cape Hospital and Health Services between 1996 and 2024. Credit: Supplied Ms Jancauskas said the claim alleged the State of Queensland failed to take sufficient action to address concerns about systematic racism in hospitals and health services over 30 years despite investigations and inquiries identifying these issues. She said there were examples of Aboriginal and Torres Strait Islander people who had sought medical care from public hospitals and health services in the North West and Cape regions but been repeatedly dismissed, which the case alleges led to children dying. 'This has sadly been the experience of Aboriginal and Torres Strait Islander people who have sought medical care from public hospitals and health services in these regions,' she said. 'This case goes beyond individual harm. It challenges a pattern of institutional racism that continues to impact the health and lives of First Nations people across Queensland.' The class action alleges the state withheld or denied First Nations people adequate treatment, dismissed patients' concerns and delivered substandard medical care to them breaching the Racial Discrimination Act 1975 (Cth). Credit: Supplied Litigation Lending Services chief executive officer Susan Wynne said they were funding the class action to seek justice on behalf of the Aboriginal and Torres Strait Islander people who were failed by Queensland Health. 'Every Australian has the right to access healthcare free from discrimination,' she said. 'For too long, complaints of racism in the public health system have been minimised or ignored.' Queensland Health declined to comment on the case, as the matter is before the courts. Health Minister Tim Nicholls has been contacted for comment.
West Australian
20-05-2025
- Health
- West Australian
Aboriginal and Torres Strait Islanders launch a class action against Queensland Health over racial discrimination
Queensland Health have been hit with a class action over allegations of racial discrimination that claim Aboriginal and Torres Strait Islander people received inadequate healthcare spanning three decades. The class action alleges First Nations people were withheld or denied adequate treatment, had their concerns dismissed and received substandard medical care, which was unlawful and breached the Racial Discrimination Act 1975 (Cth). Litigators JGA Saddler filed the class action on Tuesday on behalf of Aboriginal and Torres Strait Islander people who were subject to discriminatory conduct by the North West and Torres and Cape Hospital and Health Services between 1996 and 2024. JGA Saddler director Rebecca Jancauskas said the state needed to be held accountable for systematic practices that resulted in Aboriginal and Torres Strait Islander people who interacted with certain healthcare providers in Queensland receiving a lower standard of healthcare. 'We've heard heartbreaking stories of First Nations patients being ignored, misdiagnosed, or dismissed in ways that would simply not happen to other Australians,' she said. 'This case is about ensuring those voices are heard, and change is made. 'No one should be treated differently in our hospitals because of their race.' Ms Jancauskas said the claim alleged the State of Queensland failed to take sufficient action to address concerns about systematic racism in hospitals and health services over 30 years despite investigations and inquiries identifying these issues. She said there were examples of Aboriginal and Torres Strait Islander people who had sought medical care from public hospitals and health services in the North West and Cape regions but been repeatedly dismissed, which the case alleges led to children dying. 'This has sadly been the experience of Aboriginal and Torres Strait Islander people who have sought medical care from public hospitals and health services in these regions,' she said. 'This case goes beyond individual harm. It challenges a pattern of institutional racism that continues to impact the health and lives of First Nations people across Queensland.' Litigation Lending Services chief executive officer Susan Wynne said they were funding the class action to seek justice on behalf of the Aboriginal and Torres Strait Islander people who were failed by Queensland Health. 'Every Australian has the right to access healthcare free from discrimination,' she said. 'For too long, complaints of racism in the public health system have been minimised or ignored.' Queensland Health declined to comment on the case, as the matter is before the courts. Health Minister Tim Nicholls has been contacted for comment.
Yahoo
07-05-2025
- Business
- Yahoo
Southern Cross Gold Closes First Tranche of Private Placement
The First Tranche was completed under an offer to investors who qualify as professional or sophisticated investors under section 708(8), (10) and (11) of the Corporations Act 2001 (Cth) ("Corporations Act") in Australia for aggregate gross proceeds of A$82,472,355 from the issuance of 16,171,050 CDIs, and by way of private placement in reliance on available exemptions from the prospectus requirements in Canada and other permitted jurisdictions, for aggregate gross proceeds of C$16,029,495.00 from the issuance of 3,562,110 Shares. All Shares issued pursuant to the First Tranche are subject to a statutory hold period of four-months and one day from the date of closing (the "Closing") expiring on September 7, 2025. CDIs issued under the Placement cannot be converted into Common Shares for the purpose of trading such Shares in Canada until four months and one day have elapsed from the Closing. The Placement remains subject to final approval from the TSX Venture Exchange. The net proceeds from the Placement are expected to deliver the following key milestones in the growth and development of the Sunday Creek Gold-Antimony Project, located 60 km north of Melbourne, Australia: A second tranche (the "Second Tranche") of the Placement for additional aggregate gross proceeds to the Company of approximately C$54,308,502 is expected to close on or about May 14, 2025, or on such other dates as the Company and the JLMs may agree. Stifel Nicolaus Canada Inc. and Aitken Mount Capital Partners Pty Ltd (ABN 39 169 972 436) acted as joint lead managers and joint bookrunners (together, the "JLMs"), together with Jett Capital Advisors as co-manager (collectively with the JLMs, the "Agents") to the Placement. Pursuant to the closing of the First Tranche, the Company has issued 19,733,160 common shares (the "Shares" and each common share in the authorized structure of the Company, a "Common Share") of which 16,171,050 are converted to Chess Depositary Interests (the "CDIs") each at a price of C$4.50 (A$5.10) for aggregate gross process of C$88,799,220 to the Company. Each CDI represents one underlying Share on a one-for-one basis. Vancouver, British Columbia and Melbourne, Australia--(Newsfile Corp. - May 7, 2025) - Southern Cross Gold Consolidated Ltd (TSXV: SXGC) (ASX: SX2) (OTC Pink: MWSNF) (FSE: MV3) ("SXGC", "SX2" or the "Company") is pleased to announce that it has closed the first tranche (the "First Tranche") of its previously announced C$143M/A$162M private placement (the "Placement"). Story Continues The CDIs issued under the First Tranche are expected to commence normal trading on the Australian Securities Exchange ("ASX") on a normal settlement basis on May 7, 2025. The Company paid to the Agents a cash commission of A$2,388,460.56 equal to 5.0% of the gross proceeds from the First Tranche for orders received outside the President's List. The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy securities in the United States, nor in any other jurisdiction. Pursuant to the First Tranche, a total of 19,733,160 new Shares and CDIs were issued within the Company's placement capacity under ASX listing rules. An Appendix 2A with details of the issue of new CDIs has been filed on ASX today. Mr. Darren Morcombe, an insider of the Company, subscribed for 980,392 CDIs under the First Tranche for gross proceeds to the Company of A$4,999,999.20. Prior to the closing of the First Tranche, Mr. Morcombe held 28,010,720 Common Shares or approximately 12.52% of the outstanding Common Shares on a non‐diluted basis. Pursuant to the closing of the First Tranche, Mr. Morcombe now holds 28,991,112 Common Shares or 11.91% of the issued and outstanding Common Shares. Participation of Mr. Morcombe in the First Tranche constituted a "related party transaction" as defined under Multilateral Instrument 61‐101 - Protection of Minority Security Holders in Special Transactions ("MI 61‐101"), but was exempt from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities issued to the insider nor the consideration paid by the insider exceeded 25% of the Company's market capitalization. About Southern Cross Gold Consolidated Ltd. (TSXV: SXGC) (ASX: SX2) Southern Cross Gold Consolidated Ltd. (TSXV: SXGC) (ASX: SX2) controls the Sunday Creek Gold-Antimony Project located 60 km north of Melbourne, Australia (the "Sunday Creek"). Sunday Creek has emerged as one of the Western world's most significant gold and antimony discoveries, with exceptional drilling results from just 77 km of drilling. The mineralization follows a "Golden Ladder" structure over 12 km of strike length, with confirmed continuity from surface to 1,100 m depth. Sunday Creek's strategic value is enhanced by its dual-metal profile, with antimony contributing 20% of the in-situ value alongside gold. This has gained increased significance following China's export restrictions on antimony, a critical metal for defence and semiconductor applications. Southern Cross' inclusion in the US Defense Industrial Base Consortium (DIBC) and Australia's AUKUS-related legislative changes position it as a potential key Western antimony supplier. Importantly, Sunday Creek can be developed primarily based on gold economics, which reduces antimony-related risks while maintaining strategic supply potential. Technical fundamentals further strengthen the project, with preliminary metallurgical work showing non-refractory mineralization suitable for conventional processing. With over 1,000 Ha of strategic freehold land ownership, and a large 60 km drill program planned through Q3 2025, SXGC is well-positioned to advance this globally significant gold-antimony discovery in a tier-one jurisdiction. - Ends - This announcement has been approved for release by the Board of Southern Cross Gold Consolidated Ltd. For further information, please contact: Mariana Bermudez - Corporate Secretary - Canada mbermudez@ or +1 604 685 9316 Executive Office: 1305 - 1090 West Georgia Street Vancouver, BC, V6E 3V7, Canada Nicholas Mead - Corporate Development info@ or +61 415 153 122 Justin Mouchacca, Company Secretary - Australia jm@ or +61 3 8630 3321 Subsidiary Office: Level 21, 459 Collins Street, Melbourne, VIC, 3000, Australia Forward-Looking Statement This news release contains forward-looking statements. Forward-Looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements including without limitation statements related to the closing of the Second Tranche of the Placement, use of proceeds of the Placement, applicable regulatory and applicable stock exchange approvals. Forward-Looking statements include words or expressions such as "proposed", "will", "subject to", "near future", "in the event", "would", "expect", "prepared to" and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political, social uncertainties; the state of capital markets, unforeseen events, developments, or factors causing any of the expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and other risks described in Southern Cross Gold's documents filed with Canadian or Australian securities regulatory authorities (under code SX2). You can find further information with respect to these and other risks in filings made by Southern Cross Gold with the securities regulatory authorities in Canada or Australia (under code SX2), as applicable, and available for Southern Cross Gold in Canada at or in Australia at (under code SX2). Documents are also available at We disclaim any obligation to update or revise these forward-looking statements, except as required by applicable law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release. NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES To view the source version of this press release, please visit
