04:39 PM EDT, 09/10/2025 (MT Newswires) -- G2 Goldfields ( GUYGF ) after trade Wednesday said its planned spin out of non-core properties into a new company called G3 Goldfields will require fresh shareholder approval after it changed the proposed properties it will include in G3.

The spin-out, first proposed in November, 2024, was approved by shareholders in January. However G2 altered the properties to be given to the new firm. The spin-out now includes six exploration properties in Guyana, including Tiger Creek, Peters Mine, Aremu Mine, and Aremu Partnership. G2 said this move will allow it to focus fully on its flagship OKO project, while G3 will focus on developing these non-core assets.

A new vote is slated to be held on Nov.27.

G3 is expected to list its shares on the Canadian Securities Exchange, pending meeting all listing requirements, according to the statement.

G2 shares closed up $0.14 to $3.53 on the Toronto Stock Exchange.