G Mining and G2 Goldfields Provide Update on Arrangement with G Mining and Spin-Out of G3 Goldfields
G confirms the July closing of its G2 acquisition, a transaction the market has already priced in.
G Mining Ventures Corp. (GMIN) and G2 Goldfields provided a procedural update regarding their previously announced plan of arrangement. Under the terms of the deal, GMIN will acquire 100% of G2, while G2 will spin out its G3 Goldfields subsidiary to G2 shareholders. The exchange ratio has been confirmed at 0.212 GMIN common shares and 0.5 G3 common shares for each G2 share held.
The companies expect to complete the remaining closing conditions by the end of July 2026, with the Effective Date to follow shortly. Upon completion, G2 will be delisted from the TSX and OTCQX and will cease being a reporting issuer in Canada. Meanwhile, G3 has applied to list on the Canadian Securities Exchange (CSE).
The strategic rationale for the transaction is to create a tier-one gold mining hub in Guyana and establish one of the largest, lowest-cost gold operations in the Americas. Regarding resources at the G2 Oko District, the company disclosed Indicated resources of 1.62M oz @ 3.24 g/t and Inferred resources of 1.91M oz @ 3.31 g/t.
G Mining Ventures Corp. (GMIN) issued a routine closing update regarding the transaction originally announced on April 9, 2026. The exchange ratio, spin-out structure, and July 2026 closing timeline were previously disclosed and have already been priced into the stock.
The release did not introduce new financial metrics, revised valuations, or unexpected deal terms. It primarily confirmed that regulatory and shareholder approval pathways remain intact.
Market reaction is likely muted, as the stock has already absorbed the April announcement, the La Mancha top-up financing, and the Oko West construction progress.
G Mining Ventures Corp. is a producing gold company transitioning into an intermediate producer. Its Tocantinzinho (TZ) Mine in Brazil is a 100%-owned, cash-generating asset that produced 171,871 oz of gold in FY 2025 at an average all-in sustaining cost (AISC) of $1,155/oz.
The company is also advancing the Oko West Project in Guyana, a 100%-owned asset that is fully permitted and under construction. A feasibility study targets average annual production of 350,000 oz at an AISC of $1,123/oz, with first gold targeted for the second half of 2027. Additionally, the Gurupi Project in Brazil serves as a district-scale exploration asset containing 1.83M oz in indicated resources, with an environmental and social impact assessment (ESIA) and preliminary economic assessment (PEA) targeted for the second half of 2026.
G Mining Ventures Corp. is also consolidating the Oko-Ghanie Project through its acquisition of G2 Goldfields, which adds approximately 228,000 oz of life-of-mine reserves and expands the company’s land package.