(Il Sole 24 Ore Radiocor) - Milano, 9 apr - The Canadian group G Mining Ventures has entered into an agreement to buy G2 Goldfields in an all-stock deal worth about 3.0 billion Canadian dollars.

G2 shareholders will receive 0.212 G Mining common shares for each common share held.

Upon completion of the transaction, existing G Mining and G2 shareholders will own approximately 80.1% and 19.9% of the enlarged company.

G2 shareholders will also own 100% of G3 SpinCo, a newly created gold explorer that will hold interests in the Tiger Creek property, Peters Mine property and Property B.

G3 SpinCo will be funded with 45 million Canadian dollars of cash and will also be granted a contingent value right providing for payments to the company of up to 200 million US dollars.

The takeover of G2 will consolidate two adjacent gold projects in Guyana: G2's Oko-Ghanie Project and G Minging's fully permitted and fully financed Oko West Project, "creating a large-scale, low-cost gold mining hub in one of the most prospective emerging gold districts in the world," G Mining explained.

The deal unlocks over 1 billion Canadian dollars expected synergies related to capital costs, operating costs, and throughput expansion due to shared infrastructure, mine.

sequencing and permitting, it added.

(RADIOCOR) 09-04-26 14:56:32 (0473) 5 NNNN