VANCOUVER, British Columbia - Great Quest Gold Ltd. (TSX-V: GQ) has entered into a definitive arrangement agreement with Lotus Gold Corporation, setting the stage for a significant shift in Vancouver's mining sector [1][2][3][4].

The agreement, dated June 26, 2025, outlines Great Quest's intention to acquire all issued and outstanding shares of Lotus Gold. This transaction will be executed through a court-approved plan of arrangement under the Business Corporations Act of British Columbia [1][2].

According to the terms disclosed, Great Quest will issue new common shares in exchange for Lotus Gold shares. The TSX Venture Exchange (TSXV) has classified this arrangement as a reverse takeover (RTO), with Lotus set to become a wholly-owned subsidiary of the resulting entity [1][2][3][4].

This development follows Great Quest's earlier announcement on May 14, 2025, hinting at the potential merger. The current agreement represents the culmination of those initial discussions [1][2][3][4].

While specific financial details of the transaction have not been disclosed in the current releases, the arrangement is described as an "arm's length transaction," suggesting that the parties are acting independently and in their own self-interest [1][2][3][4].

The merger is expected to have a significant impact on Vancouver's mining industry, potentially creating a stronger entity with combined resources and expertise. However, the deal still requires various approvals, including from the court and relevant regulatory bodies [1][2][3][4].

As this story develops, stakeholders will be watching closely to see how this consolidation affects the broader Canadian gold mining landscape and what it might signal for future trends in the sector.