This transaction represented the final opportunity to exercise that right, after which the Fund retains only customary anti-dilution rights.
Louis-Pierre Gignac, President and Chief Executive Officer, stated: "The investment reflects that La Mancha continues to see significant value creation potential in the Company. GMIN's strong performance and execution to date have reinforced La Mancha's original investment thesis, which remains firmly supported by the Company's growth strategy, portfolio of high-quality gold assets in Latin America, and highly experienced management team with a proven track record of building and operating mines."
In connection with the exercise of the top-up right, the Corporation has agreed to issue 9,311,745 common shares (the "Top-Up Shares") to La Mancha at a price of CAD 45.89, for aggregate gross proceeds of approximately CAD 427 million. There are no fees or commissions payable on the La Mancha subscription, which is expected to close on or about March 11, 2026, subject to customary closing conditions, including receipt of the Toronto Stock Exchange approval. Following the issuance of the Top-Up Shares, La Mancha will beneficially own approximately 19.9% of the issued and outstanding common shares of the Corporation.
The Oko West Gold Project ("Oko West") remains on-budget and on-schedule for first gold pour in the second half of 2027 and continues to be fully funded by the Corporation's balance sheet and cash flow. The Corporation intends to use the proceeds from the issuance of the Top-Up Shares to reduce reliance on debt pertaining to Oko West development, increase exploration efforts, accelerate debt repayment, and for general corporate purposes.
About G Mining Ventures Corp.G Mining Ventures Corp. is a mining company engaged in the development, operation and exploration of precious metal projects to capitalize on the value uplift from successful mine development. GMIN is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to ...
