O2Gold Signs Definitive Agreement for Acquisition of Quebec Gold Mining Exploration Property; Announces Private Placement - Seite 2

Please see below for a map showing the location of the Assets:

In addition, the Company announces a non-brokered private placement financing of up to 5,000,000 Common Shares at a price of $0.05 per Common Share for gross proceeds to the Company of up to $250,000 (the “Offering”). All securities issued in connection with the Offering will be subject to a statutory hold period of four-months and one day. Completion of the Offering is subject to a number of conditions, including approval from the TSXV. The Company intends to use the net proceeds of the Offering to finance activities on the Assets and for general working capital purposes. The Offering and Acquisition are expected to close on or about May 31, 2024.

Finder’s fees may be paid to eligible finders in accordance with the policies of the TSXV consisting of a cash commission equal to up to 7% of the gross proceeds raised under the Offering and finder warrants (“Finder Warrants”) in an amount equal to up to 7% of the number of Common Shares sold pursuant to the Offering. Each Finder Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.05 per share for a period of 12 months following the closing date of the Offering.

About O2Gold

O2Gold is a mineral exploration company.

For additional information, please contact:

Scott Moore, Chief Executive Officer
Phone: [phone]

Cautionary Note Regarding Forward-looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Assets, the Company’s ability to complete the Acquisition and the Offering and to develop the Assets, the expected timing of completion of the Offering and Acquisition, the receipt of approval of the TSXV in connection with the Offering and the Acquisition, the satisfaction by the Company of TSX Venture Tier 2 Listing Requirements following completion of the Acquisition and the graduation to Tier 2 of the TSXV, the resumption of trading of the Common Shares on the TSXV, and other matters related thereto. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.