Spin-Out
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G2 Goldfields Provides Update on G3 Spin-Out and Shareholder Meeting Date
Globenewswireยท 2025-09-10 20:00
Core Viewpoint - G2 Goldfields Inc. plans to spin out its non-core properties into a new entity, G3 Goldfields Inc., to unlock value for shareholders and focus on its primary OKO project in Guyana [1][2]. Spin-Out Details - The spin-out will involve transferring non-core assets and a cash amount to G3 through a plan of arrangement under the Canada Business Corporations Act [1]. - Each G2 shareholder will receive one share of G3 for every two shares of G2 held as of the effective date of the arrangement [3]. - The spin-out requires shareholder approval at a meeting scheduled for November 27, 2025, where a special resolution will be presented [4]. Regulatory and Listing Information - The completion of the arrangement is contingent upon G2 entering into an arrangement agreement and receiving necessary regulatory and court approvals, including from the Toronto Stock Exchange [5]. - G3 shares are intended to be listed on the Canadian Securities Exchange, subject to meeting all listing requirements [5]. Additional Information - Further details regarding the spin-out will be provided when G2 enters into the arrangement agreement and will be included in the management information circular to be filed in early November 2025 [6]. - G2 Goldfields focuses on gold exploration and development in Guyana, with a significant mineral resource estimate for the OKO property, including 513,500 ounces of inferred gold [7][9].