G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) and G2 Goldfields (TSX: GTWO) (OTCQX: GUYGF) have announced that the remaining closing conditions for their proposed plan of arrangement are expected to be completed by the end of July 2026, with the transaction closing shortly thereafter. Under the arrangement, G Mining Ventures will acquire all outstanding G2 shares, while G2 completes the spinout of G3 Goldfields. The deal positions G Mining Ventures to strengthen its portfolio of precious metal projects in mining-friendly jurisdictions.
According to the terms, G2 shareholders will receive 0.212 of a G Mining Ventures common share and 0.5 of a G3 Goldfields common share for each G2 share held immediately prior to the effective date. Following the closing, G2 shares are expected to be delisted from the Toronto Stock Exchange and OTCQX. Meanwhile, G3 Goldfields has applied to list its shares on the Canadian Securities Exchange, subject to meeting listing requirements. This strategic move allows G2 shareholders to maintain exposure to the combined entity while also receiving shares in the newly spun-out G3 Goldfields.
The acquisition is significant for G Mining Ventures as it adds the Oko West Project in Guyana to its existing assets, which include the Tocantinzinho Gold Mine and the Gurupi Project in Brazil. The company is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. The consolidation of these assets is expected to create value through operational synergies and a diversified project pipeline.
For G2 Goldfields, the arrangement provides an exit for its shareholders while allowing the company's assets to be advanced under G Mining Ventures' development capabilities. The spinout of G3 Goldfields also ensures that certain assets are separately managed, potentially unlocking additional value. The transaction highlights the ongoing consolidation trend in the mining sector as companies seek to optimize portfolios and strengthen their market positions.
Investors should note that the completion of the transaction remains subject to customary closing conditions. More details on the arrangement can be found in the full press release here. As the mining industry continues to evolve, this acquisition underscores G Mining Ventures' commitment to growth and its strategy of developing and operating precious metal projects.
