G Mining and G2 Goldfields Provide Update on Arrangement with G Mining and Spin-Out of G3 Goldfields
G2 Goldfields shareholders will receive 0.212 GMIN and 0.5 G3 per share as the deal execution remains on track.
G Mining Ventures Corp. (GMIN) and G2 Goldfields Inc. (G2) have issued a progress update regarding their previously announced plan of arrangement. The companies expect to satisfy the remaining closing conditions by the end of July 2026, with the Effective Date to be announced shortly thereafter.
Under the terms of the transaction, G2 shareholders will receive 0.212 GMIN shares and 0.5 G3 shares for each G2 share held. Following the deal, G2 shares will be delisted from the TSX and OTCQX, and G2 will cease its reporting status. Meanwhile, G3 will apply to list on the CSE. The transaction aims to create a tier-one gold mining hub in Guyana by combining GMIN's Oko West and G2's Oko-Ghanie projects.
Resource data for the Oko District remains unchanged from prior filings:
- 1.62moz Indicated @ 3.24 g/t
- 1.91moz Inferred @ 3.31 g/t
G2 Goldfields Inc. (GTWO) issued a routine execution update regarding its previously announced transaction, which was first disclosed on April 9, 2026. The deal has already secured both shareholder approval, with 99.99% voting in favor, and court approval.
The update confirms that the transaction is on track to close by the end of July 2026. The exchange ratio, deal structure, and strategic rationale remain unchanged.
Market reaction to the news has been muted, as the transaction was already priced in. Following the initial announcement, the stock traded near the offer price of approximately $10.78–$10.84 CAD before compressing to around $9.50. The update introduces no new fundamental catalysts or surprises, as the information was expected and telegraphed.
G2 Goldfields Inc. is a development-stage gold company focused on the Oko-Ghanie Project in Guyana. Its flagship assets include the Oko Main Zone (OMZ), Ghanie Zone, and New Oko Discovery. The company is currently spinning out non-core assets, including Tiger Creek, Peters Mine, Aremu, and Property A/B, into G3 Goldfields Inc.
The project is located in Guyana, a jurisdiction recognized as a top-10 global mining destination, with a 25% corporate tax and an 8% open-pit royalty. G2 Goldfields has completed a Preliminary Economic Assessment (PEA) as of December 2025, with a Feasibility Study targeted for mid-2027.