G Mining Ventures Announces Restatement of 2024 Financial Statements Due to Non-Cash Foreign Exchange Accounting Adjustments

G Mining Ventures Corp. is restating its 2024 financial statements due to non-cash foreign exchange accounting adjustments totaling approximately $32 million. The adjustments relate to the application of IAS 21 and have no impact on the company's cash position, liquidity, or compliance with financial covenants. The restatement reflects a technical correction with no effect on GMIN's financial health or performance. The company will release its Q1 2025 financial results on May 14, 2025, followed by a conference call on May 15, 2025.

Title: G Mining Ventures Corp. Restates 2024 Financial Statements for Non-Cash Foreign Exchange Adjustments

G Mining Ventures Corp. (GMIN), a precious metals company, has announced the restatement of its 2024 financial statements due to non-cash foreign exchange accounting adjustments totaling approximately $32 million. The adjustments, which relate to the application of IAS 21 – The Effects of Changes in Foreign Exchange Rates, have no impact on the company's cash position, liquidity, or compliance with financial covenants [1].

The restatement reflects a technical correction with no effect on GMIN's financial health or performance. The company has identified approximately $11 million of unrealized foreign exchange losses relating to certain external debt balances and $21 million in income tax recovery related to unrealized foreign exchange losses on intercompany loans at the subsidiary level. These adjustments were recorded in the Consolidated Statements of Comprehensive Income (Loss) rather than the Consolidated Statements of Income (Loss) [1].

The restated financial results for the fourth quarter of 2024 are as follows:
- Net Income: $15,238 (as compared to $47,597 as originally filed)
- Basic EPS: $0.07 (as compared to $0.21 as originally filed)
- FD EPS: $0.07 (as compared to $0.21 as originally filed)
- Adjusted Net Income: $25,597 (as compared to $57,956 as originally filed)
- Basic Adjusted EPS: $0.11 (as compared to $0.26 as originally filed)
- FD Adjusted EPS: $0.11 (as compared to $0.26 as originally filed) [1]

GMIN will release its first quarter 2025 financial results on Wednesday, May 14, 2025, after market close. A conference call hosted by senior management will follow on Thursday, May 15, 2025, at 9:00 AM (Eastern Time) to discuss the Corporation's financial and operating results. Participants can join the call using the following details:
- Conference ID: 4077930
- Participant Toll-Free Dial-In Number: 1-800-715-9871
- Participant International Dial-In Number: 1-646-307-1963
- Webcast Access: https://edge.media-server.com/mmc/p/ybh84bka or via the GMIN website at: https://gmin.gold/investors/presentations-and-events/ [1]

High Roller Technologies, another company, is also scheduled to host a conference call on May 15, 2025, at 4:30 PM ET to discuss its first quarter 2025 financial results and business developments [2].

References:
[1] https://www.prnewswire.com/news-releases/g-mining-ventures-announces-restatement-of-its-2024-financial-statements-following-non-cash-foreign-exchange-accounting-adjustments-302453024.html
[2] https://www.nasdaq.com/articles/high-roller-technologies-announces-q1-2025-financial-results-conference-call-may-15-2025