O2gold extends financing, still working on acquisition

Executive Summary

• O2gold Inc. has received an extension from the TSX Venture Exchange to close its previously announced non-brokered private placement financing and the acquisition of Quebec Aur Ltd.
• The new closing date for both the financing and the acquisition is set for on or about January 7, 2026.
• The terms of the financing have been amended to include finders' fees, consisting of cash commissions and warrants.

Key Details

• Transaction: Acquisition of all issued and outstanding shares of Quebec Aur Ltd. (gold mining exploration property in Quebec) via share exchange agreement dated April 15, 2024, as amended November 14, 2024.
• Financing Extension: Extension granted by TSX Venture Exchange to close the non-brokered private placement.
• New Closing Date: On or about January 7, 2026, subject to satisfaction or waiver of conditions.
• Financing Structure:
  • 18 million units.
  • 16 million flow-through common shares.
  • Aggregate gross proceeds: $1.7 million.
• Amended Terms (Finders' Fees):
  • Cash commission: Up to 8% of gross proceeds raised.
  • Finders' warrants: Up to 8% of the number of common shares and units sold.
  • Warrant Exercise Price: $0.10 per share.
  • Warrant Term: 24 months following the closing date.
• Referenced Previous Releases:
  • Acquisition details: April 15, 2024; April 23, 2024; April 24, 2024; May 30, 2024; August 23, 2024.
  • Offering details: April 8, 2025; August 7, 2025.
  • Management Information Circular: Mailed to shareholders of record as of August 26, 2024.