Xanadu Mines Ltd. (ASX: XAM) has filed a non-offering prospectus with Canadian securities regulators. Xanadu Mines has applied to list its shares on the Toronto Stock Exchange (TSX).
Xanadu Mines stock currently trades on the Australian Securities Exchange (ASX) and its stock closed at AUD $0.240 on February 22, 2018.
Bennett Jones LLP acts as Xanadu’s Canadian legal counsel.
Xanadu is a Sydney, Australia based mineral exploration corporation that carries on exploration and development of its various mineral projects in Mongolia.
Xanadu holds interest in an advanced porphyry copper and gold project through its control of the Kharmagtai Project and has a portfolio of advanced district-scale exploration projects including the Red Mountain Project, formerly the Oyut Ulaan Project, and the Yellow Mountain Project, formerly, the Sharchuluut Uul Project.
Singapore based investment management and private equity specialist, Asia Capital & Advisors Private Limited (ACA) is Xanadu’s largest shareholder controlling 25.07% of outstanding shares.
Update: Xanadu officially announced filing on February 26, 2018 (Sydney Time)
“The TSX listing will constitute a significant milestone for Xanadu, and is driven by the strong and increasing levels of interest by Canadian and North American institutional investors, as the Company advances its large copper and gold projects in Mongolia. Xanadu’s flagship Kharmagtai coppergold project continues to demonstrate potential as a globally significant copper-gold discovery. A dual listing will provide enhanced access to international equity capital and the benefits of being listed on two leading resource focussed exchanges to increase liquidity and opportunity.” – Xanadu’s MD & CEO, Dr Andrew Stewart.
photo credit: Xanadu Mines