en.Wedoany.com Reported - Goldgroup Mining Inc. announced the completion of its merger with Gold Resource Corp. (GRC), under which GRC shareholders received 0.3619 shares of Goldgroup common stock for each share of GRC common stock held. GRC has been delisted from NYSE American, and Goldgroup's shares trade on NYSE American under the ticker symbol GORO.

Goldgroup is a Canada-based mining company with three gold assets in Mexico, including the San Francisco heap leach project in Sonora, the Cerro Prieto heap leach gold mine, and the Don David gold mine near Oaxaca. The Don David gold mine and the Back Forty project in Michigan, USA, were acquired from GRC.

Allen Palmiere, Goldgroup's newly appointed President and Chief Executive Officer, stated that the business combination with GRC is a milestone for the company's development. By combining the assets and resources of both entities, Goldgroup is expected to become a Mexico-focused junior precious metals producer, driving continued growth and development.

Following the completion of the merger, Goldgroup's Board of Directors and executive management have been restructured. Board members include Ron Little, Lila Manassa Murphy, Nicole Adshead-Bell, Luis Felipe Medina Aguirre, and Francisco Javier Reyes de la Campa. Allen Palmiere has been appointed President and Chief Executive Officer, Chet Holyoak as Chief Financial Officer, and Armando Alexandri as Chief Operating Officer.