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Falcon Metals Limited

Falcon Metals Limited

Demerger Summary - Falcon Metals Ltd 

On 15 December 2021, Chalice completed the demerger of Falcon Metals Ltd (Falcon) following the in-specie distribution of Falcon Shares to eligible Chalice shareholders in conjunction with a $30 million, Initial Public Offering undertaken by Falcon.

The demerger resulted in the transfer of Chalice’s Australian gold assets, comprising the Pyramid Hill Project, Mt Jackson Project and Viking Project to Falcon. Falcon shares were distributed to eligible Chalice Shareholders by way of a pro rata in-specie distribution, on the basis of 1 Falcon Metals share for approximately every 3.034 Chalice Shares held on the In-specie Record Date of 9 December 2021.

Chalice shareholders also retained their existing Chalice shares.

Falcon Metals (ASX: FAL) commenced trading on the ASX list on 22 December 2021, and both Chalice and Falcon now trade independently. Falcon is a new, high-profile gold exploration specialist led by a highly decorated board and management team.

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