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Chaswood Resources' US$1 billion RTO deal with lithium-ion maker 3DOM is off

The Edge Singapore
The Edge Singapore 11/15/2021 11:44 PM GMT+08  • 2 min read
Chaswood Resources' US$1 billion RTO deal with lithium-ion maker 3DOM is off
Chaswood Resources says talks with a new potential target is underway
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Chaswood Resources’ reverse takeover deal with 3DOM Inc has been terminated, just ten days after the sales and purchase agreement was signed on Nov 5.

Under terms of the agreement, Chaswood was to acquire 70% of 3DOM Singapore by issuing new shares worth US$1 billion to Japan based 3DOM Inc.

If completed, the deal would see Chaswood Resources transform from a struggling F&B operator to a lithium-ion battery maker.

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