O2Gold is Acquiring Gold Mining Shares.

O2Gold Expands Through Share Acquisition in Quebec

O2Gold Inc. (NEX:OTGO.H) has provided an important update regarding the acquisition of a gold mining exploration property in Quebec. The company is moving forward under a share exchange agreement signed between the parties on April 15, 2024, to acquire all shares of Quebec Aur Ltd.. The agreement has been updated with a revision made on November 14, 2024.

The company has received an extension from the TSX Venture Exchange to close the previously announced non-brokered private placement financing, which includes a total of 18 million units and 16 million flow-through common shares. In this process, O2Gold expects to raise a total of $1.7 million in gross proceeds. The deadline for closing the private placement has been set for December 7, 2025.

The parties are diligently working to complete the remaining legal formalities of the agreement. The closing of the agreement is expected to take place by December 7, 2025, subject to the fulfillment or waiver of certain conditions. Details of the agreement have been discussed in more detail in the company's press releases dated April 15, April 23, April 24, May 30, and August 23, 2024. Further information can be found in the management information circular sent to registered shareholders on August 26, 2024.

O2Gold is a company engaged in mineral exploration.