Great Pacific Gold Corp. received final court approval on Dec. 5, 2025 for a 1:1 spinout of Walhalla Gold Corp., with Walhalla shares to be distributed to GPAC shareholders and issued on Dec. 15. The carve‑out isolates a Victorian asset with a historic 2.2 million‑ounce pedigree, creating a standalone equity whose market value will be determined once trading begins and TSX Venture Exchange acceptance is confirmed.

  • Distribution ratio: 1 Walhalla common share for every 1 GPAC common share
  • Record date: Close of business, Dec. 12, 2025
  • Issue date: Dec. 15, 2025 (subject to TSXV acceptance)
  • Asset: Walhalla Gold Project, Victoria, Australia — historic production ~2.2 Moz (72.2 t) at ~25.3 g/t

Context

Spinouts remain a primary mechanism in 2025 for resource companies to crystallize value and sharpen capital allocation. By separating Walhalla from GPAC’s Papua New Guinea development pipeline, management aims to present investors with two discrete risk‑reward profiles: a pure‑play Victorian gold exploration vehicle and a Papua New Guinea development portfolio with active drilling programs.

Market dynamics this year favour focused assets. Investors are prioritizing companies with clear governance, transparent capital plans and demonstrable sustainability measures across the mining cycle. Walhalla’s Victorian lodes, with quartz veins that show a vitreous luster in outcrop and a long historical production record, offer an exploration narrative that can be readily appraised independently of GPAC’s broader strategy.

Impact for U.S. Investors and Retailers

For U.S. investors, the immediate implication is simple and tactile: an additional, tradable security with its own market profile and substantial heft—however that market ultimately values the historic endowment and near‑term exploration upside. The 1:1 distribution creates potential for re‑rating; specialist gold funds and retail investors who prefer single‑asset exposures may bid the new equity differently than they did GPAC.

Retail jewelers and metal buyers are unlikely to see direct short‑term supply changes from an exploration‑stage project, but for investors tracking longer‑term upstream supply, Walhalla’s inventory of more than 420 historic workings and the district’s 2.2 Moz output are the kind of geologic credentials that, if converted through modern drilling and development, feed future concentrate flows.

Operationally, the arrangement remains subject to TSX Venture Exchange acceptance. Investors should weigh the usual exploration risks: historical production is not a reserve, and future drilling, permitting and capital availability will determine whether historic ounces translate into commercial tonnage.

Practical Next Steps

GPAC shareholders of record at the close of business Dec. 12 will receive one Walhalla share per GPAC share, with issuance planned for Dec. 15. Management contact: Investor Relations, +1‑778‑262‑2331, info@gpacgold.com. Technical content in the release was reviewed by Callum Spink, VP Exploration and Qualified Person under NI 43‑101.

As the new equity begins to trade, watch for TSXV filings, initial capital structure disclosures and early assay or drill plans from Walhalla’s management — those elements will set the reference points investors use to value a standalone Walhalla.

Image Referance: https://investingnews.com/court-approval-received-and-effective-date-set-for-walhalla-1-1-spinout/