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O2Gold Provides Update on Quebec Aur Transaction; Upsizes Private Placement Financing
Globenewswireยท 2025-08-08 01:00
Acquisition Update - O2Gold Inc. is progressing with the acquisition of a gold mining exploration property in Quebec through the purchase of Quebec Aur Ltd. [1][3] - The acquisition is part of a share exchange agreement dated April 15, 2024, and amended on November 14, 2024 [1][3]. Financing Details - The company has increased the hard dollar portion of its non-brokered private placement financing from 14 million units to 18 million units [2]. - Each unit consists of one common share and one common share purchase warrant, with an aggregate gross proceeds of $1.7 million expected from the offering [2]. - The proceeds will be used for general corporate purposes and to fund phase one exploration expenses on a 9,000 hectare claim package related to the acquisition [2]. Timeline and Conditions - The acquisition and offering are expected to close in late 2025, pending the satisfaction or waiver of certain conditions [3]. - Further details regarding the acquisition can be found in previous press releases and the management information circular sent to shareholders [3].