Dixie Gold Inc. (TSXV:DG) entered into an agreement to acquire Omnia Metals Group Ltd (ASX:OM1) for CAD 18.2 million in a reverse merger transaction on October 24, 2023. Under the negotiated Agreement, Omnia will acquire Dixie Gold in exchange for 166,666,667 common shares of Omnia and a further CAD 3 million cash component.

The transaction is subject to various conditions customary in transaction matters of this kind including, as applicable but without limitation, receipt of all necessary regulatory approvals, shareholder approvals, court approval(s) and the entering into of an arrangement agreement and/or definitive documentation. Customary approvals are also required on part of Omnia. The agreement was duly approved by the independent directors of Dixie Gold.

Dixie Gold Inc. (TSXV:DG) cancelled the acquisition of Omnia Metals Group Ltd (ASX:OM1) in a reverse merger transaction on March 5, 2024.