Dixie Gold Inc. (TSE:DG) has released an update.
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Dixie Gold Inc. has initiated legal action against Omnia Metals Group Ltd. in response to complications arising from a previously agreed takeover deal. The lawsuit, filed at the Supreme Court of British Columbia, revolves around Omnia’s failure to secure the funds it committed to and its assertion that certain shareholders would oppose the transaction. Despite Dixie Gold’s attempts to salvage the agreement, Omnia has halted all progress on completing the acquisition.
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