Baden Resources enters letter of intent with NorthStar Gaming over reverse takeover

June 20, 2022
Leer en Español

The reverse takeover remains in the proposal stage, with a concurrent offering yet to be put forward.

Baden Resources has announced that it has entered into a non-binding letter of intent with NorthStar Gaming concerning the proposed reverse takeover of Baden by NorthStar Gaming.

A reverse takeover is a process whereby private companies can become publicly traded companies without going through an initial public offering.

The transaction remains in the proposal stage, pending several criteria to be reached before completion. Baden Resources must complete a share consolidation before NorthStar Gaming will make an offering of subscription receipts (known as a “concurrent offering”).

In connection with the proposed transaction, it is intended that Baden would acquire, pursuant to a three-cornered amalgamation or other structure (mutually agreed by both parties) all of the outstanding shares of NorthStar Gaming in exchange for shares of Baden.

The criteria for completion includes the negotiation of definitive documentation by 27 June 2022, the receipt of regulatory approvals and the acceptance of the concurrent offering.

It is also a condition to completion of the proposed transaction that Baden Resources delists from the CSE and obtain conditional approval to list on the TSX Venture Exchange.

A Canadian company, NorthStar Gaming owns and operates NorthStar Bets, a made-in-Ontario casino and sportsbook gaming platform that provides players with a uniquely local, premier user experience. The NorthStar Bets sportsbook provides real-time news, stats, analysis and scores directly in the betting environment along with popular online casino games.

Baden Resources is a mineral exploration and acquisition company based in the US and Canada that has been operating since 2020.


Product Spotlight

Bragg Gaming Group

Bragg Gaming Group is a global content-driven iGaming technology provider, serving online and land-based gaming operators with its proprietary and exclusive content and cutting-edge technology.
Virtual Showroom



Industry Awards



GA Newsletter

Exclusive news, analysis, insights, and interviews delivered straight to your inbox

Ray Pineault, CEO - Mohegan Gaming

Pineault speaks to the GA Huddle about:
- Mohegan events and sports betting
- Mohegan's partnership with the Soloviev Group
- The potential casino and Freedom Plaza elements if Mohegan and Soloviev are awarded a New York City Casino license
- Plans and progress surrounding the Inspire Entertainment Resort in South Korea

Kevin Dennis - The Innovation Group & Troy Ross - TRM Public Affairs

Troy Ross, President TRM Public Affairs
Kevin Dennis, SVP Canada, The Innovation Group

Dennis and Ross join the GA Huddle to discuss one year of regulated sports betting in Ontario, reflecting on the market so far, its recently released sports betting figures and projections for the future.

 Does it get bigger than the Big Apple? With the race for an NYC casino license heating up, the city is certainly getting plenty of attention for gaming right now. Accordingly, our magnificent team has produced an i...

Where is the payments industry headed?
Gaming America speaks to Christopher Justice (Pavilion Payments), John Skorick (MIDs), Anne Hay (PayNearMe), Victor Newsom (Everi) and Mandi Hart (Sightline).
Becoming a better bettor: WagerWire launches new BetValue Calculator
Travis Geiger of WagerWire speaks about the brand's attempts to launch a new concept, a social media community and a Bet Value Calculator through the ethos of ‘being a good hang.'
What is the best way for betting operators to advertise its services?
A look into infographics provided by Epom, to analyze which betting channels and methods are most appealing to betting companies.
Triggers, boundaries and a balanced reality
Accredited Financial Counselor Ambus Hunter Shares His Story of Recovering From Problem Gambling Addiction and Working Towards Financial Recovery