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Bald Eagle Gold Corp. closes qualifying transaction
On March 19, 2021, Bald Eagle Gold Corp. (formerly Wolf Acquisition Corp.) ("Bald Eagle") (TSXV: WOLF.P) announced the closing of its previously announced qualifying transaction. The transaction was completed by way of a three-cornered amalgamation under the federal laws of Canada, whereby a wholly owned subsidiary of Bald Eagle, prior to completion of the transaction, amalgamated with CX One Inc. ("CX One") and Frontera Gold Inc. ("Frontera").
Prior to and in connection with the transaction, CX One completed a non-brokered subscription receipt financing of subscription receipts which were subsequently converted into units of CX One, with each unit consisting of one common share of CX One and one-half of one common share purchase warrant of CX One. In connection with the completion of the transaction, each unit of CX One was automatically exchanged for one unit in the capital of Bald Eagle.
In connection with and pursuant to the terms of the transaction, all outstanding securities of CX One were exchanged for equivalent securities of Bald Eagle on a 1:1 basis, and all outstanding securities of Frontera were exchanged for equivalent securities of Bald Eagle on a 3.5:1 basis.
Bald Eagle is no longer a capital pool company and is classified as a Tier 2 issuer pursuant to TSX Venture Exchange policies. Its common shares commenced trading under the ticker symbol "BIG" on March 24, 2021.
Gowling WLG advised CX One with respect to this transaction with a team that included Peter Simeon, Ryan Cohen and Daniel Scott, assisted by student-at-law Sean Walsh.
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