Vancouver, British Columbia and Denver, Colorado--(Newsfile Corp. - July 17, 2026) - Goldgroup Mining Inc. (TSXV: GGA) (OTCQX: GGAZF) ("Goldgroup" or the "Company") and Gold Resource Corporation (NYSE American: GORO) ("GRC") are pleased to announce that they have closed the previously announced merger (the "Merger") pursuant to the Arrangement Agreement and Plan of Merger, dated January 25, 2026 and amended on May 15, 2026, by and among GRC, Goldgroup, and Goldgroup Merger Sub Inc., a wholly owned subsidiary of Goldgroup ("Merger Sub"). At the effective time of the Merger, GRC merged with and into Merger Sub, with GRC surviving as a wholly owned subsidiary of Goldgroup. As a result of the Merger, GRC shareholders are entitled to receive 0.3619 common shares of Goldgroup for each share of GRC's common stock.
Allen Palmiere, Goldgroup's new President and Chief Executive Officer, remarked: "The business combination of Goldgroup and GRC represents a transformational milestone. With the combined assets and resources of both entities, we expect Goldgroup to become a leading, Mexico-focused junior precious metals producer. This represents a tremendous opportunity and we look forward to the continued growth and development of the Company."
The completion of the Merger follows the satisfaction of all closing conditions, including receipt of approval by the shareholders of each of GRC and Goldgroup on July 2, 2026, approval by the Mexican National Antitrust Commission (Comisión Nacional Antimonopolio) (the "NAC") on April 23, 2026 (the "NAC Ruling"), final approval by the Supreme Court of British Columbia on July 6, 2026, and approval by the TSX Venture Exchange. In accordance with the NAC Ruling, the Company must deliver certain closing documentation to the NAC within thirty (30) business days of the closing of the Merger and the elements to determine final tariffs; otherwise, the Company may be subject to potential daily coercive penalties.
As a result of the Merger, GRC will be delisted from the NYSE American LLC (the "NYSE American") prior to market open on or about July 20, 2026. Immediately following the delisting, Goldgroup will commence trading under the ticker symbol "GORO" on the NYSE American. Goldgroup's common shares will no longer be quoted on the OTC Markets upon commencement of trading on the NYSE American. GRC will also apply to cease to be a reporting issuer in the applicable jurisdictions in Canada.
In connection with the completion of the Merger, the TSX Venture Exchange has approved the change of Goldgroup's ticker symbol from "GGA" to "GORO," which ticker symbol change is expected to become effective on or around Wednesday, July 22, 2026.