G2 Goldfields Stock Soars 85% On G Mining Takeover Deal

(RTTNews) - G2 Goldfields Inc. (GUYGF) shares surged 85.41 percent, gaining $3.50 to $7.60 on Thursday, after agreeing to be acquired by G Mining Ventures Corp. in an all-share transaction valued at approximately CAD 3.0 billion.

The stock is currently trading at $7.60 compared with its previous close of $4.10, after opening at $6.25 on the OTC Markets. Shares traded between $6.25 and $7.60 during the session, with volume at 82,508 shares versus an average daily volume of 160,381.

Under the agreement, shareholders will receive 0.212 shares of G Mining for each share held and retain exposure to a newly created exploration entity, G3 SpinCo. The combined company will integrate G2's Oko-Ghanie Project with G Mining's Oko West Project to form a large-scale gold hub in Guyana. G2 Goldfields' 52-week range is $1.83 to $7.60.