(TheNewswire)
Vancouver, B C - TheNewswire - June 8, 2023 - G2 Energy Corp. (CSE:GTOO ) ( FWB:UD9) ( the " Company " or" G2 ") announcesthat further to its news release dated May 31, 2023 regarding theconsolidation of its commons shares (the “ Common Shares ”) onthe basis of five (5) pre consolidated shares into one (1) postconsolidated common share (the “ Share Consolidation ”), the effective date for the Share Consolidation will beJune 9, 2023 ad the record date for the Share Consolidation will beJune 12, 2023.
Effective June 9, 2023, the Company will commencetrading on the Canadian Securities Exchange on a consolidated basisand the new CUSIP and ISIN number will be 40054T206 and 40054T2065 respectively.
The Share Consolidation will result in the number ofissued and outstanding Common Shares being reduced from the currentissued and outstanding of 91,697,885 CommonShares to 18,339,543 Common Shares. The Company also has outstandingwarrants to purchase 74,984,150 Common Shares reserved for issuance,equal to 14,996,830 Common Shares on a post consolidated basis. Inaddition, the Company also has The Company also has outstandingincentive stock options to purchase 2,650,000 Common Shares reservedfor issuance, equal to 530,000 Common Shares on a post consolidatedbasis.
No fractional shares will be issued as a result of theShare Consolidation. Any fractional shares resulting from the ShareConsolidation will be rounded down to the next whole Common Shares,and no cash consideration will be paid in respect of fractionalshares.
On Behalf of the Board,
“ SlawekSmulewicz ”
Slawek Smulewicz
CEO
For further information, please contact
John Costigan
VP Corporate Development
O: +1 604 620 8589
W: WWW.G2.ENERGY
About G2 EnergyCorp.
G2 is a junior oil and gas producer listed on the CSEexchange. It's primary focus is to acquire and develop additionaloverlooked, low risk, high return opportunities in the oil and gassector. G2's strategy is to obtain a portfolio of risk-managedproduction and development opportunities onshore, U.S.A. In May 2022,G2 acquired the Masten Unit in the Permian Basin, Texas. The MastenUnit is the Company's first producing asset. G2 is targeting top tierprojects with operating netbacks and infrastructure facilities whichwill fast track overall oil and gas production growth.
The Canadian Securities Exchange hasneither approved nor disapproved the information containedherein.
Forward Looking StatementsCaution
Statements in this press releaseregarding the Company which are not historical facts are“forward-looking statements” that involve risks and uncertainties.Such information can generally be identified by the use offorwarding-looking wording such as “may”, “expect”,“estimate”, “anticipate”, “intend”, “believe” and“continue” or the negative thereof or similar variations. Sinceforward-looking statements address future events and conditions, by their very nature, theyinvolve inherent risks and uncertainties. The Company providesforward-looking statements for the purpose of conveying informationabout current expectations and plans relating to the future, includingexpectations regarding the Company's ability to meet its outstandingobligations, and readers are cautioned that such statements may not beappropriate for other purposes. By its nature, this information issubject to inherent risks and uncertainties that may be general orspecific and which give rise to the possibility that expectations,forecasts, predictions, projections or conclusions may not prove to beaccurate, that assumptions may not be correct and that objectives,strategic goals and priorities may not be achieved. These risks anduncertainties include but are not limited to those identified andreported in the Company’s public filings under the Company’s SEDARprofile at www.sedar.com. The Company's ability to meet itsoutstanding obligations could differ materially from those currentlyanticipated due to factors such as: the performance of facilities andpipelines, commodity prices, price volatility, price differentials andthe actual prices received for the Company’s products, royaltyregimes and exchange rates, the availability of capital, labour andservices, the creditworthiness of industry partners, G2’s ability toacquire additional assets, unexpected increases in operating costs, and risks associated withpotential future lawsuits and regulatory actions made against theCompany including but not limited to being found in default of theCompany's obligations to Cloudbreak. Although the Company hasattempted to identify important factors that could cause actualactions, events or results to differ materially from those describedin forward-looking information, there may be other factors that causeactions, events or results not to be as anticipated, estimated orintended. There can be no assurance that such information will proveto be accurate as actual results and future events could differmaterially.
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