G Mining Ventures Corp (TSX-V:GMIN, OTCQX:GMINF) said it has raised $50 million through private placements and received court approval for its previously announced merger with Reunion Gold Corporation (TSX-V:RGD, OTCQB:RGDFF).
The company announced the successful closing of its private placements with La Mancha Investments S.à r.l. and Franco-Nevada Corporation (TSX:FNV).
It issued just over 15.1 million shares to each at C$2.279 per share, raising $50 million.
In a statement, G Mining Ventures said the Ontario Superior Court of Justice granted a final order on July 11, 2024, approving the plan of arrangement between GMIN and Reunion Gold Corporation.
A new entity, New GMIN, will manage the combined businesses and seek Toronto Stock Exchange listing approval.
GMIN said it expects the arrangement to close around July 15, 2024, with New GMIN shares to begin trading on the TSX under the symbol ‘GMIN’ shortly thereafter, replacing the current shares.