G2 Goldfields Approves Spin-Out of Non-Core Assets Into G3 Goldfields
G2 Goldfields Inc. has secured shareholder approval for a major restructuring plan. The company will spin out its non-core assets into a new subsidiary, G3 Goldfields Inc. Over 74% of G2’s shareholders backed the proposal at a recent meeting.
The move follows an updated mineral resource estimate for G2’s Oko property in Guyana, which confirmed significant gold deposits earlier this year.
The spin-out will see G2 transfer its interests in certain non-core assets, along with cash, to G3 in exchange for shares. These shares will then be distributed to G2 shareholders on a 1:2 basis—one G3 share for every two G2 shares held. Only those registered as G2 shareholders by the effective date will qualify for the distribution.
G2’s Oko district, a historic alluvial goldfield since the Taurus 1870s, remains a key focus. A March 2025 update revealed combined open pit and underground resources of 1.54 million ounces of gold (inferred) and 1.47 million ounces (indicated). Modern exploration continues to uncover further potential in the region.
The transaction still requires final approval from the courts and regulators, including the Toronto Stock Exchange. If all goes as planned, completion is expected in the first quarter of 2026. All technical details in the announcement were reviewed by Dan Noone, a qualified person under National Instrument 43-101.
The company has noted that forward-looking statements, including those about the spin wheel and future plans, carry risks. Actual outcomes may differ from current projections.
The spin-out marks a strategic shift for G2 Goldfields, separating its core and non-core holdings. Shareholders will receive G3 shares based on their existing G2 holdings, subject to final approvals.
Once completed, the move will establish G3 as an independent entity focused on the transferred assets. The process remains on track for early 2026, pending regulatory green lights.
