Business
Goldgroup Announces Business Combination with Gold Resource Corporation to Create a New, Mexican-Focused Precious Metals Producer
Vancouver, British Columbia--(Newsfile Corp. - January 26, 2026) - Goldgroup Mining Inc. (TS...
About this update from Goldgroup Mining Inc.
[{"type":"text","content":"Goldgroup Announces Business Combination with Gold Resource Corporation to Create a New, Mexican-Focused Precious Metals ProducerVancouver, British Columbia--(Newsfile Corp. - January 26, 2026) - Goldgroup Mining Inc. (TSXV: GGA) (OTCQX: GGAZF) (\"Goldgroup\" or the \"Company\") is pleased to announce that it has entered into a definitive arrangement agreement and plan of merger (the \"Arrangement Agreement\") with Gold Resource Corporation (NYSE American: GORO) (\"GRC\"), whereby Goldgroup has agreed to acquire all of the issued and outstanding shares of GRC's common stock (the \"Transaction\").Transaction DetailsPursuant to the Arrangement Agreement, GRC's stockholders will receive 1.4476 common shares of Goldgroup for each share of GRC's common stock (adjusted to 0.3619 common shares of Goldgroup for each share of GRC's common stock as a result of a four-for-one share consolidation (the \"Consolidation\") to be completed by Goldgroup prior to closing) (the \"Exchange Ratio\"). Based on the closing prices of GRC's common stock and Goldgroup's common shares on January 23, 2026, the Exchange Ratio represents a value of US$2.25 per share of GRC's common stock, reflecting a 39% premium to GRC's closing price on January 23, 2026. The Transaction values GRC's common stock at approximately US$372 million on a fully-diluted in-the-money basis and based on the value of Goldgroup shares on January 23, 2026.The proposed Transaction will occur by way of a reverse triangular merger in which GRC will merge with a wholly owned subsidiary of Goldgroup under Colorado law (the \"Merger\") and a plan of arrangement under the Business Corporations Act (British Columbia) (the \"Arrangement\"), with GRC surviving as a wholly owned subsidiary of Goldgroup. Upon completion of the Transaction, GRC stockholders are expected to own approximately 40% of the combined company on a fully-diluted in-the-money basis with Goldgroup's current shareholders holding the remaining approximately 60% interest.The Transaction was unanimously approved by the boards of directors of Goldgroup and GRC. The Transaction was negotiated at arm's length. No finder's fees or commissions are payable by either party in connection with the Transaction. The Transaction is expected to close in the second quarter of 2026, subject to customary closing conditions (including a...