Live News • Jul 30
G Mining Ventures Finalizes G2 Goldfields Acquisition Creating Large Gold Mining Complex G Mining Ventures has closed its plan of arrangement to acquire all issued and outstanding shares of G2 Goldfields, making G2 a wholly owned subsidiary and triggering the delisting of G2 shares from the Toronto Stock Exchange and OTCQX, while G3 Goldfields has completed a spin out and applied to list on the Canadian Securities Exchange.
The deal consolidates adjacent deposits into what the companies describe as a large, low cost, tier one gold mining complex that is expected to create operational and capital synergies across the combined asset base.
G Mining Ventures shares trade at about CA$40.92, with the stock down roughly 13.1% over the past 90 days, which gives a sense of how the market has recently treated the company as it moves through this transaction.
The key read through is that G Mining Ventures now controls a larger, more integrated gold project. The real test will be how efficiently it can combine operations and deliver the projected synergies. Announcement • Jul 29
G Mining Ventures Corp. (TSX:GMIN) completed the acquisition of G2 Goldfields Inc. (TSX:GTWO) from Ithaki Limited and others. G Mining Ventures Corp. (TSX:GMIN) entered into a definitive agreement to acquire G2 Goldfields Inc. (TSX:GTWO) from Ithaki Limited and others for approximately CAD 2.8 billion on April 9, 2026. G2 shareholders will receive 0.212 GMIN common shares for each G2 common share held. G2 shareholders will also receive common shares in a newly created gold explorer (“G3 SpinCo”) that will hold interests in the Tiger Creek property, Peters Mine property and Property B. Upon completion of the Transaction, existing GMIN and G2 shareholders will own approximately 80.1% and 19.9% of GMIN, respectively, and G2 shareholders will also own 100% of G3 SpinCo. The G2 shares are expected to be de-listed from the Toronto Stock Exchange and will cease to be quoted on the OTCQX. G2 will also apply to cease to be a reporting issuer under applicable Canadian securities laws. In case of termination of transaction G2 Goldfields Inc. will pay a termination fee of CAD 121 million.
The transaction is subject to court approval, third party approval, approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by acquirer board and approval of offer by target shareholders. The Board of Directors of G2 Goldfields Inc. formed a special committee for the transaction. The deal has been unanimously approved by both the boards. The merger is expected to complete in Q2, 2026. On June 16, 2026, the transaction has been approved by the shareholders of G2 Goldfields Inc. The transaction is still subject to the satisfaction or waiver of the remaining customary closing conditions, including receipt of the approval of the Ontario Superior Court of Justice and is expected to close in July 2026. On June 22, 2026, the Ontario Superior Court of Justice has granted the final order in connection with the transaction. As of July 13, 2026, the parties are actively working through the remaining closing conditions, which are expected to be completed by the end of July 2026. Closing of the arrangement will follow shortly thereafter.
BMO Capital Markets and National Bank of Canada Financial Markets acted as financial advisor for G Mining Ventures Corp and its board of directors. Howard Levine and Patrick Menda of Blake, Cassels & Graydon LLP acted as legal advisor for G Mining Ventures Corp. ATB Cormark Capital Markets acted as financial advisor and fairness opinion provider for G2 Goldfields Inc and its special committee. Canaccord Genuity Corp. acted as financial advisor and fairness opinion provider for G2 Goldfields Inc and its board of directors. Jay Goldman, Lindsay Clements, Jasmine Qin, Zahra Nurmohamed, Tera Li Parizeau, and Davit Akman of Cassels Brock & Blackwell LLP acted as legal advisor for G2 Goldfields Inc. Thomas M. Rose, Shona Smith, Mark A. Goldsmith, Morgan Klinzing, and Joel M. Post of Troutman Pepper Locke LLP acted as legal advisors for G Mining Ventures Corp.
G Mining Ventures Corp. (TSX:GMIN) completed the acquisition of G2 Goldfields Inc. (TSX:GTWO) from Ithaki Limited and others for on July 29, 2026. Concurrently with the closing, a Contingent Value Right agreement was executed providing for up to CAD 280.24 ($200 million) in payments contingent on achieving specific resource milestones. Post-closing, G Mining Ventures Corp. beneficially owns, or exercises control or direction over all of the issued and outstanding G2 Goldfields Shares such that G2 Goldfields has become a wholly-owned subsidiary of G Mining Ventures Corp. Major Estimate Revision • Jul 16
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from US$768.6m to US$697.4m. EPS estimate also fell from US$1.69 per share to US$1.31 per share. Net income forecast to grow 4.3% next year vs 23% growth forecast for Metals and Mining industry in Canada. Consensus price target of CA$61.50 unchanged from last update. Share price fell 12% to CA$37.86 over the past week. 
