(Kaieteur News) – The Ontario Superior Court of Justice (Commercial List) has granted the final order in connection to the US$2.2B (C$3 billion) arrangement to consolidate G Mining Ventures (GMIN) and G2 Goldfields Inc. gold projects in Guyana.

GMIN and G2 Goldfields are both Canadian firms that own gold projects in Region Seven (Cuyuni-Mazaruni). Given that the companies trade on the Toronto Stock Exchange (TSX), the arrangement was subject to shareholders and the Canadian court’s approval.

G2’s shareholders last week approved the deal to consolidate the two adjacent gold properties, G2’s Oko-Ghanie project with GMIN’s fully permitted and fully financed Oko West project. The court and the shareholders approved among other things for GMIN to acquire all of the issued and outstanding common shares of G2 and for G2 to complete the spin-out of a new company, G3 Goldfields Inc. – which will hold G2’s remaining properties not included in the acquisition.