O2gold extends financing, still working on acquisition

Mr. Scott Moore reports O2GOLD PROVIDES UPDATE ON QUEBEC AUR TRANSACTION O2gold Inc. has 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., pursuant to a share exchange agreement entered into by the company with the target and its shareholders dated April 15, 2024, as amended Nov. 14, 2024. The company received an extension from the TSX Venture Exchange to close its previously announced non-brokered private placement financing of 18 million units and 16 million flow-through common shares for aggregate gross proceeds to the company of $1.7-million. The company now has until Jan. 7, 2026, to close the offering. In addition, the company has amended the terms of the offering to contemplate finders' fees being paid to eligible finders in accordance with the policies of the TSX Venture Exchange, consisting of a cash commission equal to up to 8 per cent of the gross proceeds raised under the offerings and finders' warrants in an amount equal to up to 8 per cent of the number of common shares and units sold pursuant to the offerings. Each finder's warrant will continue to entitle the holder thereof to purchase one common share of the company at a price of 10 cents per share for a period of 24 months following the closing date of the offerings. The parties continue to work diligently to complete the remaining legal formalities in relation to the acquisition, which is now expected to close (along with the offering) on or about Jan. 7, 2026, subject to the satisfaction or waiver of certain conditions. The acquisition is more fully described in the company's news releases dated April 15, 2024, April 23, 2024, April 24, 2024, May 30, 2024, and Aug. 23, 2024, as well as the company's management information circular, which was mailed to shareholders of record as of Aug. 26, 2024. Additional information respecting the offering can be found in the company's news releases dated April 8, 2025, and Aug. 7, 2025. The news releases and circular are available under O2gold's profile on SEDAR+. About O2gold Inc. O2gold is a mineral exploration company. We seek Safe Harbor.