G2 Goldfields To Transfer Non-core Assets To G3 Subsidiary In Advance Of Proposed Spinout
G2 Goldfields (TSX: GTWO) is set to transfer a number of its non-core assets to its G3 Goldfields subsidiary, along with cash, in advance of a proposed spinout.
The spinout is set to see a total of five non-core properties placed into a new entity in an effort to unlock value for shareholders. The transaction will result in G2 focusing all of its efforts on the OKO project in Guyana, while G3 will then be in a position to focus on advancing the other assets currently in G2’s portfolio.
Assets to be spun out include the Tiger Creek and Peters Mine properties, both of which are in the Puruni District of Guyana. Also to be included in the transaction are the Aremu Mine Property, the Amsterdam Option, and the Aremu Partnership, which are based in the Cuyuni District of Guyana.
The transaction is set to see G2 shareholders receive one G3 share for every two shares of G2 held as of the effective date of the spin out. G3 is expected to list on a Canadian exchange upon closing of the transaction.
The transaction remains subject to regulatory approval, as well as approval by at least 66.7% of shareholders of G2. A shareholder meeting on the matter is currently scheduled for January 28, 2025.
G2 Goldfields last traded at $2.27 on the TSX.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
