TORONTO, Jan. 06, 2025 (GLOBE NEWSWIRE) — G2 Goldfields Inc. (“G2” or the “Company”) (TSX:GTWO) is pleased to announce that it has filed the management information circular and related meeting materials (collectively, the “Meeting Materials”) for the annual general and special meeting of G2 shareholders to be held on January 28, 2025 (the “Meeting”).

The purpose of the Meeting is, among other things, to consider and, if deemed advisable, pass a special resolution (the “Arrangement Resolution”) approving the previously announced proposed spin-out of G2’s interest in certain non-core assets (the “Non-Core Assets”) into a wholly owned subsidiary of G2, G3 Goldfields Inc. (“G3”), through a plan of arrangement under the Canada Business Corporations Act (the “Spin-Out”).

Further to the Company’s press releases dated November 29, 2024 and December 12, 2024, the Spin-Out is expected to be effective in February, 2025.

The board of directors of the Company (the “Board”) has determined that the Spin-Out is fair and in the best interests of the Company and the Company’s shareholders and recommends that the Company’s shareholders vote in favour of the Arrangement Resolution.

G2 believes that its current share price does not fully recognize the value of the Non-Core Assets, and that by completing the Spin-Out, shareholders will benefit from unlocking the value of the Non-Core Assets.

Additionally, the Spin-Out will allow the Company to concentrate its efforts on its OKO project in Guyana, while providing G3 with sufficient working capital to advance the exploration and development of the Non-Core Assets.

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