Northwire Canada EditionWednesday, July 29, 2026
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M&A / Property

Great Pacific Gold completes Walhalla Gold spinout

By The Northwire Desk — AI Analysis Dec 12, 2025 · 16:01 GPAC · 0.50 Great Pacific Gold Corp.
GPAC · Price

Executive Summary

  • Great Pacific Gold Corp. has completed the previously announced plan of arrangement to spin out Walhalla Gold Corp., distributing Walhalla shares to existing shareholders.
  • Shareholders received one Walhalla common share and one new Great Pacific Gold common share for every Class A common share held, resulting in the cancellation of Class A shares.
  • Walhalla Gold Corp. has applied to list on the Canadian Securities Exchange (CSE), while the new Great Pacific Gold shares are listed on the TSX Venture Exchange effective December 16, 2025.

Key Details

  • Transaction Structure: The spinout was implemented via an arrangement agreement among Great Pacific Gold, 1537559 B.C. Ltd. (Finco), and Walhalla.
  • Share Exchange Ratio: Shareholders received (i) one common share of Walhalla and (ii) one new common share of Great Pacific Gold for every Class A common share held.
  • Class A Share Cancellation: All Class A shares were cancelled as shareholders ceased to hold them.
  • Financial Consideration: Finco made a one-time payment of $1.5 million to Great Pacific Gold under the arrangement agreement.
  • Future Acquisition: Prior to Walhalla’s listing on the CSE, Walhalla will acquire all issued and outstanding shares of Finco.
  • Royalty Retention: Great Pacific Gold retains a 2% net smelter return (NSR) royalty on the Walhalla gold project.
  • Listing Status:
    • Great Pacific Gold: Listed on TSX Venture Exchange at market opening on Dec. 16, 2025.
    • Walhalla Gold: Applied to list on Canadian Securities Exchange (CSE); listing subject to CSE acceptance.
  • Walhalla Asset Profile:
    • Owns the Walhalla gold project in Victoria, Australia.
    • Located in the Walhalla-Woods Point goldfield, a significant historic goldfield in Victoria.
    • Historic production: Estimated 2.2 million ounces (72.2 tonnes) from 54 mines at a grade of 25.3 g/t Au.
    • Represents approximately 10% of Victoria's historic gold production.
    • Geological setting: Palaeozoic-aged Melbourne geological structural zone, ~150 km east of Melbourne.
    • Over 420 mines/workings identified within the goldfield.

Notable Quotes

  • None provided in the text.
Read the original news release →

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