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Canadian company to spin out 79,000 acres of Guyana gold properties into new company to unlock benefits for shareholders
Kaieteur News – Canadian gold exploration company G2 Goldfields Inc. on Wednesday announced plans to spin out 79,000 acres of its non-core Guyana gold properties into a new company, G3 Goldfields Inc., in a move to unlock value for shareholders.
G2 Goldfields’ Oko Main gold project in Guyana. Credit: G2 Goldfields
The assets earmarked for transfer include the Tiger Creek Property (3,685 acres) and Peters Mine Property (8,316 acres) in the Puruni District, along with the Aremu Mine Property (8,811 acres) and the Aremu Partnership, including the historic Wariri Mine (32,340 acres), in the Cuyuni District. Two additional Region Seven properties, covering 5,457 acres and 20,739 acres, will also be included.
G2 said the spin-out will allow it to focus on advancing its flagship Oko project, while G3 develops the transferred assets. “G2 believes that its current share price does not fully recognize the value of the Non-Core Assets, and that by completing the Spin-Out, shareholders will benefit from unlocking the value… Additionally, the Spin-Out will allow the Company to concentrate its efforts on its Oko project in Guyana, while G3 focuses on the advancement of the Non-Core Assets,” the company stated.
In May, this publication reported that G2 had secured 60,000 acres for the spin-off company. Last year, G2 also entered into an exploration agreement with a prominent Guyanese mining family for a 30,000-acre land package in the Aremu-Oko gold district, further expanding its control in the area.
Under the arrangement, G2 shareholders will receive one G3 share for every two G2 shares held at the close of business on the effective date. Notably, the transaction is subject to shareholder approval at a meeting expected November 27, 2025, along with regulatory, court, and Toronto Stock Exchange clearance. G3 shares are expected to list on the Canadian Securities Exchange, pending approval.
In March, G2 announced an Updated Mineral Resource Estimate (MRE) for the Oko property: Oko Main Zone (OMZ): 808,000 ounces indicated and 513,500 ounces inferred gold (open pit + underground); Ghanie Zone: 663,400 ounces indicated and 1,024,500 ounces inferred gold and Oko NW Zone: 97,200 ounces inferred (open pit).
The MRE, prepared by Micon International Limited, highlights the Oko district’s potential, which has been a prolific alluvial goldfield since the 1870s.
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