(TheNewswire)
Vancouver, BC - TheNewswire - January 4, 2023 - G2 Energy Corp. (CSE:GTOO ) ( FKN:UD9) (the “ Company ” or “ G2 ”) announces this n ews release is to makea correction to the previous news release distributed today. Thesuperseded news release says " at a priceof CAD$0.0.05 perUnit ," where it should have said" at a price of CAD$0.05 per Unit ". Please see below for the full News Release:
Vancouver, B.C. January4, 2023 - G2 EnergyCorp. (CSE: GTOO,FKN: UD9) (the “ Company ” or“ G2 ”) announces today a non-brokeredprivate placement financing of up to 30,000,000 units of the Company(the “ Units ”) at a price of CAD$0.05 per Unit for aggregate gross proceedsof up to CAD$1,500,000 (the “ Offering ”) whichmay be increased if the Offering is over-subscribed.
Each Unit will consist of one (1) common share in thecapital of the Company and one (1) common share purchase warrant (the“ Warrant ”).
Each Warrant will be exercisable by the warrant holderto acquire one (1) additional common share at a price of CAD$0.08 for a periodof twelve (12)months from the closing of the Offering (the“ ClosingDate ”).
The proceeds from the Offering will be used by theCompany primarily for working capital and may also be used to fund aportion of the purchase price of the acquisition of certain oilproperties, if necessary. The Offering is expected to close on orabout January 30, 2023.
In consideration of the introduction to the Company ofinvestors in the Offering, finder's fee may be paid in cash or insecurities of the Company in accordance with applicable securities laws and CSE policies .
The completion of the Offering will be subject toreceipt of and all necessary regulatory approvals, including, ifrequired, conditional approval by the Exchange.
Participation of insiders of the Company in theOffering will constitute a related party transaction as defined underMultilateral Instrument 61-101 - Protection of Minority Security Holders inSpecial Transactions (“ MI 61-101 ”). TheCompany intends to rely on the exemption from the formal valuationrequirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(a)of MI 61-101 and the exemption from the minority approval requirementsof Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(a) of MI61-101.
The securities issued in connection with the Offeringwill be subject to a four-month hold period under applicable Canadiansecurities laws commencing on the Closing Date of the Offering.
On Behalf of the Board,
“ SlawekSmulewicz ”
Slawek Smulewicz, CEO
For further information, please contact:
John Costigan, VP CorporateDevelopment
O: +1 778 775 4985, C: +1 604 620 8689
E: info@g2.energy , W: WWW.G2.ENERGY
About G2 EnergyCorp.
G2 Energy Corp. is a profitable junior oil and gasproducer listed on the CSE exchange. It's primary focus is to acquireand develop additional overlooked, low risk, high return opportunitiesin the oil and gas sector. G2's strategy is to obtain a portfolio ofrisk-managed production and development opportunities onshore, U.S.A.In May 2022, G2 acquired the Masten Unit in the Permian Basin, Texas.The Masten Unit is the Company's first producing asset. G2 istargeting top tier projects with operating netbacks and infrastructurefacilities which will fast track overall oil and gas productiongrowth.
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, bytheir very nature, they involve inherent risks and uncertainties. The Company providesforward-looking statements for the purpose of conveying informationabout current expectations and plans relating to the future,including expectations forthe effects of the change of business of G2 to oil andgas, and readers arecautioned that such statements may not be appropriate for otherpurposes. By its nature, this information is subject to inherent risksand uncertainties that may be general or specific and which give riseto the possibility that expectations, forecasts, predictions,projections or conclusions may not prove to be accurate, thatassumptions may not be correct and that objectives, strategic goalsand priorities may not be achieved. These risks and uncertaintiesinclude but are not limited those identified and reported in theCompany’s public filings under the Company’s SEDAR profile atwww.sedar.com. Statementsrelating to “reserves” are also deemed to be forward-lookingstatements, as they involve the implied assessment, based on certainestimates and assumptions, that the reserves described exist in thequantities predicted or estimated and that the reserves can beprofitably produced in the future. Actual results could differ materiallyfrom those currently anticipated due to factors such as: the performance of wells, the availabilityand performance of facilities and pipelines, the geologicalcharacteristics of G2's properties, prevailing weather and break-upconditions, commodity prices, price volatility, price differentialsand the actual prices received for the Company’s products, royaltyregimes and exchange rates, the application of regulatory andlicensing requirements, the availability of capital, labour andservices, the creditworthiness of industry partners, and G2’sability to acquire additional assets. Although the Company has attempted toidentify important factors that could cause actual actions, events orresults to differ materially from those described in forward-lookinginformation, there may be other factors that cause actions, events orresults not to be as anticipated, estimated or intended. There can beno assurance that such information will prove to be accurate as actualresults and future events could differ materially.
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