On April 22, 2024, Dundee Corporation announced that two of its subsidiaries, and a trust controlled by Dundee Corporation (collectively, the “Dundee Entities”) entered into voting support agreements with G Mining Ventures Corp. (“G Mining”). The support agreements require the Dundee Entities to, among other things and subject to termination and other rights specified therein, vote all of the common shares of Reunion Gold Corporation (“Reunion Shares”) owned by the Dundee Entities in favour of the proposed plan of arrangement (the “Arrangement”) among G Mining, Reunion and a newly created gold explorer (“SpinCo”) that is expected to hold all of Reunion’s assets other than Oko West.
Under the Arrangement, Reunion shareholders will receive estimated consideration of $0.65 per Reunion Share, an estimated transaction equity value of $875 million, based on the closing price of the common shares of G Mining on the Toronto Stock Exchange on April 19, 2024, excluding the value of the SpinCo consideration deliverable to Reunion shareholders under the Arrangement.
Cassels acted for Dundee.