O2Gold Inc. provided 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?). Today, the Company received an extension from the TSX Venture Exchange to close its previously announced non-brokered private placement financing of 15 million subscription receipts and 15 million flow-through subscription receipts for aggregate gross proceeds to the Company of $1.5 million (the ?Offering?). The Company now has until February 6, 2025, to close the Offering.
The parties are working diligently to complete the remaining legal formalities in relation to the Acquisition, which is now expected to close in February 2024, subject to the satisfaction or waiver of certain conditions. The Acquisition is more fully described in the Company?s press releases dated April 15, 2024, April 23, 2024, April 24, 2024, May 30, 2024, and August 23, 2024, as well as the Company?s management information circular (the ?Circular?) which was mailed to shareholders of record as of August 26, 2024.
