G Mining Ventures (TSX: GMIN)

And Reunion Gold Corporation (TSXV:RGD)  are pleased to announce that the business combination between GMIN and Reunion Gold has been completed by way of a court approved plan of arrangement under the Canada Business Corporations Act.

 

 

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G Mining Ventures	TSX: GMIN
Stage	Production, Development + Exploration
Metals	Gold
Market cap	C$1.2 billion @ C$2.63
Location	Tapajos, Para State, Brazil, Guyana
Website	www.gminingventures.com

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G Mining Ventures and Reunion Gold Complete Business Combination

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BROSSARD, QC, July 15, 2024 – G Mining Ventures Corp. (“GMIN”) (TSX: GMIN) (OTCQX: GMINF) and Reunion Gold Corporation (“Reunion Gold”) (TSXV:RGD) (OTCQX:RGDFF) are pleased to announce that the business combination between GMIN and Reunion Gold has been completed by way of a court approved
plan of arrangement under the Canada Business Corporations Act (the “Arrangement”).

The Arrangement was overwhelmingly approved by GMIN shareholders as well as Reunion Gold securityholders at their respective annual general and special meetings held on July 9, 2024, and was subsequently approved by the Ontario Superior Court of Justice (Commercial List) on July 11, 2024.

 

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Louis-Pierre Gignac, President, CEO and Director of GMIN, stated:

“Oko West will play an important role in realizing our vision of becoming a leading intermediate gold producer, with its significant resource base, excellent expansion potential and location in a mining-friendly jurisdiction.

 

“With the close of the Oko West acquisition, I am excited to undertake maximizing value of this generational asset.

 

“Our team is uniquely positioned to accelerate value creation at Oko West, leveraging our deep Guiana Shield experience, expertise in project execution, and the tangible synergy from the anticipated near-term free cash flow, established system, team, and equipment at Tocantinzinho.

 

“I would like to take this opportunity to welcome Reunion Gold shareholders to the GMIN family, and I look forward to continuing to create value for our existing and new shareholders.”

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A newly incorporated successor issuer will hold and manage the combined business of GMIN and Reunion Gold (“New GMIN”), and has acquired, pursuant to the Arrangement, (i) all of the issued and outstanding common shares in the capital of GMIN (each whole share, a “GMIN Share”) and (ii) all of the issued and
outstanding common shares in the capital of Reunion Gold (each whole share, a “Reunion Gold Share”).

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In connection with the Arrangement:

• former GMIN shareholders are receiving 0.25 of a common share of New GMIN (each whole share, a “New GMIN Share”) for each GMIN Share held;
• former Reunion Gold shareholders are receiving 0.07125 of a New GMIN Share and 0.05 of a common share of Greenheart Gold Inc. (“Greenheart Gold” or “Spinco”) (each whole share, a “Spinco Share”) for each Reunion Gold Share held; and
• Reunion Gold has assigned and transferred to Greenheart Gold, a newly created gold exploration company, all of its assets other than the Oko West Project, including C$15 million in cash which GMIN has agreed to fund; resulting in New GMIN holding, indirectly through Reunion Gold, 19.9% of the outstanding Spinco Shares, and the former Reunion Gold shareholders holding the remaining 80.1%.

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It is expected that the New GMIN Shares will be listed and posted for trading on the Toronto Stock Exchange (the “TSX”) under the stock symbol “GMIN” in substitution for the presently listed GMIN shares on or around July 17, 2024, with the shares of GMIN and Reunion Gold being delisted from the TSX and the TSX Venture Exchange (the “TSXV”), respectively, at the close of trading the day before.

Each of GMIN and Reunion Gold will be submitting applications to cease to be reporting issuers under applicable Canadian securities laws and to otherwise terminate their public reporting obligations.

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.To View G Mining’s historical news, please click here

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To read the full news release, please click HERE

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The live gold price can be found HERE

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Disclosure

At the time of writing the author holds shares in G Mining Ventures.

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