#Mining #Stock News: O2Gold (TSXV: $OTGO.V)
Strengthens Balance Sheet Via Shares for Debt Settlement; @otgo_v
TORONTO, ON - September 3, 2021 (Investorideas.com Newswire) O2Gold Inc. ("O2Gold" or the "Company") (TSXV:OTGO) is pleased to announce that it has entered into a settlement agreement dated September 2, 2021 (the "Settlement Agreement") with Geominas Serviminas JV ("Geominas") to settle approximately $176,000 of O2Gold’s outstanding cash indebtedness owing to Geominas in connection with the Company’s exploratory drill program. Pursuant to the Settlement Agreement, the Company has agreed to issue Geominas 800,323 of its common shares (the "Common Shares") at a deemed price per share of $0.22, based on the closing price of the Common Shares on the TSX Venture Exchange ("TSXV") on September 2, 2021 (the "Settlement"). As a result of the Settlement, the Company’s cash cost of the drilling program is expected to be approximately $123 per meter.
Read this news,
featuring OTGO in full at https://www.investorideas.com/CO/OTGO/news/2021/09031Debt-Settlement.asp
The
Settlement remains subject to the approval of the TSXV. In accordance with
applicable securities laws, the Common Shares issued pursuant to the Settlement
will be subject to a four month and one day hold period.
About O2Gold
O2Gold
is a mineral exploration company with activities in Colombia.
For additional information, please contact:
Jaime
Lalinde, President and CEO
Phone: (57) 312 350 5864
Email: jlalinde@fmresources.ca
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 election and appointment of directors, the
potential two new vein structures at the Aurora state, and the Company's
planned work and exploration activities at its properties, particularly the
geological mapping and sampling of the Aurora, Quintanillo and Aparecida sites.
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. 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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) HAS
REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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