Baden Resources and NorthStar Gaming have reached an agreement to combine, with Baden incorporating NorthStar via a reverse acquisition. The transaction, designed as a share exchange, will have Baden issuing its stock for all of NorthStar’s remaining shares. This might occur through a three-party merger or another mutually satisfactory structure.
Prior to the transaction’s completion, Baden must consolidate its shares (the ratio remains undecided), and NorthStar intends to distribute subscription receipts. Both entities aim to finalize the definitive agreement by June 27, 2022, but the deal’s success depends on obtaining all required regulatory permissions.
It’s crucial to understand that Baden intends to delist from the Canadian Securities Exchange before any exchange. They also seek a listing on the TSX Venture Exchange as a precondition to the purchase.
However, it’s important to remember that this agreement is not legally binding. There’s no assurance the acquisition will happen as outlined or even take place at all.
For those not acquainted with NorthStar, they operate NorthStar Bets, an online casino and sports wagering platform located in Ontario. They are dedicated to providing a customized gaming experience to Canadian users.
To make an impact in the competitive Ontario gaming sector, NorthStar has been actively seeking new collaborations and deals, with this potential amalgamation being a major step in that strategy.
During the month of June in the year 2022, the gaming entity NorthStar established a collaboration with Playtech. This strategic alliance provided NorthStar with access to utilize Playtech’s IMS framework, incorporating a wide selection of engaging casino games and encompassing live dealer interactions from Playtech’s extensive catalog.