By Colin Kellaher

Guyana Goldfields Inc. on Friday said it agreed to be acquired buy Zijin Mining Group Co. for about 323 million Canadian dollars (US$237 million), or C$1.85 a share, in cash.

The Toronto-based gold producer said it terminated its prior deal to be acquired by Silvercorp Metals Inc. before inking the new deal with China's Zijin.

Silvercorp earlier this week said it wouldn't match the C$1.85-a-share bid for Guyana from a then-unnamed suitor.

Guyana Goldfields said it expects to hold a shareholder vote by the end of July seeking approval of the Zijin deal.

Write to Colin Kellaher at colin.kellaher@wsj.com