G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) and G2 Goldfields (TSX: GTWO, OTCQX: GUYGF) have entered into a definitive agreement under which G Mining will acquire all outstanding shares of G2. The transaction, structured as a court-approved plan of arrangement, combines G2's Oko-Ghanie Project with G Mining's fully permitted and financed Oko West Project in Guyana, creating a significant gold mining hub.
The combined operations are expected to produce over 500,000 ounces of gold annually on average over the life of mine, with substantial synergies in infrastructure, operating and capital costs, mine sequencing, and permitting. This consolidation positions the merged entity as a large-scale, low-cost producer in one of the world's most promising gold districts.
Under the terms of the deal, G2 shareholders will receive 0.212 G Mining common shares for each G2 share held. Additionally, they will receive shares in a newly created exploration company that will hold certain non-core G2 assets. This new entity will be funded with C$45 million in cash and supported by a contingent value right tied to future resource milestones.
G Mining Ventures Corp. is a mining company focused on the development, operation, and exploration of precious metal projects. The company aims to capitalize on the value uplift from successful mine development and is well-positioned to grow into the next mid-tier precious metals producer. Its portfolio includes the Tocantinzinho Gold Mine and the Gurupi Project in Brazil, as well as the Oko West Project in Guyana.
The full press release detailing the transaction can be accessed at https://ibn.fm/i9Or2. For more information on G Mining Ventures Corp., visit their newsroom at https://ibn.fm/GMINF.
This acquisition marks a significant step in consolidating gold assets in Guyana, a jurisdiction known for its mining-friendly policies and rich mineral potential. The combined entity is expected to benefit from operational efficiencies and a strengthened balance sheet, enabling it to advance its projects more effectively.
The transaction is subject to customary closing conditions, including regulatory approvals and approval by G2 shareholders. It is expected to close in the second quarter of 2025.
