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G2 Goldfields Says Glass Lewis Backs Its $3.0-Billion Sale to G Mining Ventures Arrangement

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G2 Goldfields (GTWO.TO) after the close Tuesday said that Glass Lewis & Co, an independent proxy advisory firm, recommended that G2 shareholders vote "FOR" its $3.0-billion sale to G Mining Ventures (GMIN.TO) to be approved at the upcoming special meeting of shareholders on June 16.

Institutional Shareholder Services has also made the same recommendation, the company said on June 4.

Glass Lewis said "the proposed transaction is the result of a lengthy and robust strategic review process commenced in June 2023" and that "the implied value of the consideration represents a substantial premium over the Company's unaffected stock price and also represents a fifteen-year high for the Company's shares".

The proxy voting deadline is 10:00 a.m. (Toronto time) on Friday, June 12

G2 Goldfields shares closed down $5.90% at $8.13 on Toronto Stock Exchange on Tuesday.

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