G Mining Ventures Corp. entered into a definitive agreement to acquire G2 Goldfields Inc. from Ithaki Limited and others for approximately CAD 2.8 billion.
Published on 04/09/2026
at 10:20 am EDT - Modified on 04/08/2026
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. In case of termination of transaction G2 Goldfields Inc. will pay a termination fee of CAD 121 million. 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 transaction is subject to 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.
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. is a Canada-based mining company. The Company is engaged in the acquisition, exploration and development of precious metal projects to capitalize on the value uplift from mine development. It is anchored by the Tocantinzinho Mine in Brazil, supported by the Gurupi Project in Brazil and the Oko West Project in Guyana, all with significant exploration upside and located in mining-friendly jurisdictions. The Tocantinzinho Mine covers 996 square kilometers (km2) land package has direct access via 103 kilometers (km) of all-weather roads starting from the national highway that links the industries in southern Brazil to the city of Belem in the north. The Oko West Gold Project is a new gold discovery in northwest Guyana, located south of the historical Oko gold district, approximately 95 km west of Georgetown. The Gurupi Project is a district-scale gold project located in northeastern Brazil, covering 2,100 km2 along an 80 km mineralized trend.
This super rating is the result of a weighted average of the rankings based on the following ratings: Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite) and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be carried out. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of rankings based on the following ratings: Returns (Composite), Profitability (Composite) and Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully read the associated descriptions.
ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
G Mining Ventures Corp. entered into a definitive agreement to acquire G2 Goldfields Inc. from Ithaki Limited and others for approximately CAD 2.8 billion.
