The Canadian casino and sports betting operator NorthStar Gaming has completed its reverse takeover of Baden Resources, a mineral exploration firm focusing on the purchase, research, and development of mineral resources in Canada and the United States.

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Baden Resources will purchase NorthStar Gaming

Last month, the operator declared its plan to conduct a reverse takeover with Baden Resources. The former has now moved through with the transaction by signing a business combination agreement with the latter. This will result in what is referred to as a three-cornered merger.

The strategy of NorthStar is to combine with one of Baden Resources’ subsidiaries. Consequently, the amalgamated firm will become a wholly-owned subsidiary of Baden. Prior to this transaction, NorthStar Gaming will divide its shares and swap them for an equal number of Baden Resources shares. When this transition is complete, the new company will assume responsibility for NorthStar’s operations.

There are necessary conditions for the success of this transaction. First, they involve the successful completion of due diligence by the two firms. In addition, receipt of any necessary regulatory clearances and completion of the concurrent offering are requirements.

Baden Resources will also be required to depart the Canadian Stock Exchange. Finally, the newly-formed business must get conditional listing permission from the Toronto Venture Exchange. As a result, the corporation will arrange a meeting to discuss the necessary agreements and documentation for the project. Notably, this involves the addition of preferred shares to Baden’s approved share structure.

NorthStar Expands Canadian Presence

NorthStar Gaming operates NorthStar Bets, an online casino and sportsbook that caters to the requirements of bettors in Ontario. In addition to providing a localized gaming experience, it captivates fans with promotional material, in-depth analysis, and sports insights.

NorthStar even engaged the iconic Canadian broadcaster Rod Black as a presenter and brand ambassador to demonstrate their commitment to providing the best gaming experience possible. The establishment of NorthStar Bets before the historic legalization of iGaming in Ontario, the largest province in Canada.

The brand was recently introduced to the province’s new online gaming sector via a partnership with Playtech. On April 4, the iGaming sector in Ontario opened its doors to many gaming providers and B2B enterprises. The province immediately became one of the most desirable markets for gaming companies.

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