Eric Sprott Announces Voting and Support Agreement for Goldgroup Mining's Proposed Acquisition of Gold Resource Corporation
Rhea-AI Summary
Goldgroup Mining (TSX:GORO) disclosed that Eric Sprott, through 2176423 Ontario Ltd., entered a voting and support agreement with Gold Resource Corporation in connection with Goldgroup's proposed acquisition of GRC under an arrangement agreement.
Under the arrangement, GRC shareholders will receive 1.4476 Goldgroup shares per GRC share, adjusted to 0.3619 Goldgroup shares after a planned 4-for-1 share consolidation by Goldgroup prior to closing. Mr. Sprott holds 30,129,500 Goldgroup shares and 15,852,250 warrants, representing ~10.3% of outstanding shares non-diluted and ~14.9% partially diluted.
A copy of the early warning report will appear on SEDAR+ and may be obtained from Mr. Sprott's office.
Positive
- Eric Sprott agreed to vote his Goldgroup securities in favour of the Proposed Transaction
- Sprott holds 30,129,500 shares, representing ~10.3% non-diluted support
Negative
- Planned 4-for-1 share consolidation adjusts exchange ratio to 0.3619, changing share math for shareholders
- Sprott may buy or sell Goldgroup securities if the Voting Agreement is terminated, adding potential post-close ownership uncertainty
News Market Reaction – GGAZF
On the day this news was published, GGAZF declined 3.82%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Toronto, Ontario--(Newsfile Corp. - January 26, 2026) - Further to the press release of Goldgroup Mining Inc. (Goldgroup), dated today, Eric Sprott announces that 2176423 Ontario Ltd., a company which he beneficially owns, has entered into a voting and support agreement (Voting Agreement) with Gold Resource Corporation (GRC), in connection with Goldgroup's agreement to acquire all the shares of GRC pursuant to an arrangement agreement and plan of merger (Arrangement Agreement) between Goldgroup and GRC (Proposed Transaction).
Pursuant 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 to be completed by Goldgroup prior to closing.
Pursuant to the Voting Agreement, 2176423 Ontario has agreed, among other things, to vote all of its Goldgroup securities (that have a right to vote) in favour of the Proposed Transaction at any meeting of securityholders held to approve the Proposed Transaction.
Mr. Sprott, through 2176423 Ontario holds 30,129,500 Goldgroup common shares (Shares) and 15,852,250 Share purchase warrants representing approximately
Mr. Sprott holds the Goldgroup securities for investment purposes and to support the Proposed Transaction and, depending on market or other conditions, may acquire additional securities of Goldgroup. If the Voting Agreement is terminated, Mr. Sprott may acquire additional securities of Goldgroup including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Goldgroup is located at 410 - 1111 Melville Street, Vancouver, British Columbia V6E 3V6. A copy of 2176423 Ontario's early warning report will appear on Goldgroup's profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 1106 - 7 King Street East, Toronto, Ontario M5C 3C5).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281644