G Mining Ventures Corp. ("GMIN" or the "Corporation") (TSX: GMIN) (OTCQX: GMINF) is pleased to announce that it has closed its previously announced private placements with La Mancha Investments S.à r.l. ("La Mancha" and such private placement, the "La Mancha Private Placement") and Franco-Nevada Corporation ("Franco-Nevada" and such private placement, together with the La Mancha Private Placement, the "Private Placements") pursuant to which it has issued 15,114,250 common shares in the capital of GMIN ("Common Shares") to each of La Mancha and Franco-Nevada, at a price of C$2.279 per share, for aggregate proceeds of $50 million. These shares are subject to a hold period which will expire on November 13, 2024, in accordance with applicable Canadian securities laws.

GMIN is also pleased to announce that the Ontario Superior Court of Justice (Commercial List) has granted a final order dated July 11, 2024 approving the plan of arrangement (the "Arrangement") between, inter alia, GMIN and Reunion Gold Corporation ("Reunion Gold") that was previously announced on April 22, 2024. Under the Arrangement, a new entity ("New GMIN") was formed and will hold and manage the combined business of GMIN and Reunion Gold. The common shares of New GMIN will, subject to the approval of the Toronto Stock Exchange (the "TSX"), be listed on the TSX in substitution of the Common Shares.

Completion of the Arrangement remains subject to, among other things, TSX approval and the satisfaction or waiver of certain other customary closing conditions. GMIN anticipates the Arrangement to close on or around July 15, 2024. It is expected that two or three business days after the closing of the Arrangement, the common shares of New GMIN will be listed and posted for trading on TSX under the stock symbol "GMIN", in substitution for the presently listed Common Shares.

About G Mining Ventures Corp.

G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) is a mining company engaged in the acquisition, exploration and development 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 capital and proven development expertise. GMIN is currently anchored by its flagship Tocantinzinho Gold Project in mining friendly and prospective State of Pará, Brazil.

Source: prnewswire.com