Eric Sprott Announces Voting and Support Agreement for Goldgroup Mining's Proposed Acquisition of Gold Resource Corporation

The most recent news release (January 26, 2026) announces that Eric Sprott's investment vehicle, 2176423 Ontario Ltd., has entered into a voting and support agreement for Goldgroup's proposed acquisition of Gold Resource Corporation (GRC). This agreement ensures Sprott will vote his Goldgroup securities in favor of the transaction. This news follows the earlier January 26, 2026 release detailing the business combination itself. The key terms of the merger are: - GRC shareholders will receive 0.3619 Goldgroup shares for each GRC share (adjusted for a planned 4-for-1 consolidation of Goldgroup shares). - The transaction values GRC at approximately $372 million USD, representing a 39% premium to its pre-announcement price. - Post-merger, Goldgroup shareholders will own 60% and GRC shareholders 40% of the combined entity. - The combined company will own three producing mines in Mexico (Don David, Cerro Prieto, San Francisco) and the Back Forty project in the USA. - Closing is targeted for Q2 2026, subject to shareholder and regulatory approvals.

This is a transformational, game-changing acquisition for Goldgroup. It represents the culmination of a hyper-aggressive acquisition and growth strategy executed over the past year. The merger drastically increases the company's scale, production profile, and geographic diversification. Acquiring GRC, a producing miner with a NYSE American listing, provides a clear pathway for the combined entity to uplist, significantly enhancing its profile and access to capital. The involvement and support of Eric Sprott, a premier mining financier, adds considerable credibility and reduces deal execution risk. The market has reacted very positively, with the stock rising from ~$1.50 in early January to over $2.00 ahead of and following the announcement. However, the deal is highly complex, involving a share consolidation, significant dilution for existing shareholders, and the integration of a much larger entity. The material impact is profoundly positive if executed successfully, but the risks are equally material.

Goldgroup Mining Inc. is a Canadian junior gold producer that has rapidly transformed via acquisition. Its original flagship project was the 100%-owned Cerro Prieto heap leach gold mine in Sonora, Mexico, which was producing ~11,500 oz Au annually. Through a series of deals in 2025, the company acquired the Pinos project (later sold), secured 100% of the San Francisco gold mine (a large, historic producer on care and maintenance), and has now agreed to acquire Gold Resource Corporation. Its strategy is to become a leading Mexico-focused intermediate gold producer.