07:12 AM EDT, 07/12/2024 (MT Newswires) -- G Mining Ventures ( GMINF ) on Friday said it has closed private placements with La Mancha Investments and Franco-Nevada (FNV.TO) and has received a final order approving its combination with Reunion Gold ( RGDFF ) .

Through the private placements, the company issued around 15.1 million common shares to La Mancha and Franco-Nevada at $2.279 per share for $50 million in proceeds.

Separately, the Ontario Superior Court of Justice (Commercial List) granted a final order approving the merger of G Mining ( GMINF ) and Reunion Gold ( RGDFF ). Under the deal, a new entity was formed and will hold and manage the combined business of the two companies.

The common shares of the new entity will be listed on the TSX, subject to approval by the exchange.

Deal closing remains subject to TSX approval and other closing conditions. G Mining ( GMINF ) expects closing to occur on July 15.