Sign Up

O2Gold Provides Update on Quebec Aur Transaction; Upsizes Private Placement Financing

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

TORONTO, Aug. 07, 2025 (GLOBE NEWSWIRE) -- O2Gold Inc. (NEX:OTGO.H) ("O2Gold" or the "Company") is pleased to provide an additional update on its pending acquisition of a gold mining exploration property in Quebec through the purchase of all of the issued and outstanding shares of Quebec Aur Ltd. (the "Target") pursuant to a share exchange agreement entered into by the Company with the Target and its shareholders dated April 15, 2024, as amended November 14, 2024 (the "Acquisition").

The Company has upsized the hard dollar portion of its previously announced non-brokered private placement financing (the "Offering") from 14 million units to 18 million units (the "Units"). Each Unit will continue to consist of one common share of the Company and one common share purchase warrant (each, a "Warrant"), and the Units and 16 million common shares issued on a "flow-through basis" pursuant to the Offering will each continue to be issued at a price of $0.05 per Unit and common share, respectively, for aggregate gross proceeds to the Company of $1.7 million. Each Warrant will continue to entitle the holder to acquire one additional common share of the Company at a price of $0.10 for a period of 24 months from issuance. The Company anticipates using the net proceeds of the hard dollar and flow-through portions of the Offering for general corporate purposes and to fund the phase ...