News: CYL Superior Gold Announces Proposed Acquisition By Catalyst Metals

Feb 23 (Reuters) - Catalyst Metals Ltd (CYL) :

• SUPERIOR GOLD ANNOUNCES PROPOSED ACQUISITION BY CATALYST METALS
• SUPERIOR GOLD - TRANSACTION WILL RESULT IN CATALYST ACQUIRING 100% OF SUPERIOR'S PLUTONIC GOLD OPERATIONS, LOCATED IN CENTRAL WESTERN AUSTRALIA
• SUPERIOR GOLD- TOTAL EQUITY VALUE FOR SUPERIOR OF APPROXIMATELY C$54 MLN ON A FULLY-DILUTED BASIS
• SUPERIOR GOLD - COMMON SHAREHOLDERS OF SUPERIOR WILL RECEIVE 0.3571 OF ONE ORDINARY SHARE OF CATALYST FOR EACH SUPERIOR COMMON SHARE HELD
• SUPERIOR GOLD - CONSIDERATION IMPLIES A PREMIUM OF 62% TO CLOSING PRICE OF SUPERIOR ON TSX VENTURE EXCHANGE AS OF FEBRUARY 22, 2023
• SUPERIOR GOLD - SPECIAL COMMITTEE COMPRISED ENTIRELY OF INDEPENDENT DIRECTORS OF SUPERIOR UNANIMOUSLY RECOMMENDED TRANSACTION TO BOARD OF SUPERIOR
• SUPERIOR GOLD- EXISTING CATALYST SHAREHOLDERS AND FORMER SUPERIOR SHAREHOLDERS WILL OWN ABOUT 78% AND 22% OF COMBINED COMPANY RESPECTIVELY
• SUPERIOR GOLD - CO MAY TERMINATE AGREEMENT IN FAVOUR OF AN UNSOLICITED SUPERIOR PROPOSAL, SUBJECT TO A TERMINATION PAYMENT OF C$2 MLN BY CO TO CATALYST