(TheNewswire)
Vancouver, B.C. - TheNewswire - November 28,2022 - G2 Energy Corp. (CSE:GTOO ) , ( FKN:UD9) (the “ Company ” or “ G2 ”) is providing abi-weekly default status report in accordance with National Policy12-203 – Management Cease Trade Orders (" NP 12-203 "),with respect to its previously announced management cease trade order(" MCTO ") issued by the British Columbia Securities Commission(the " BCSC "), the Company's principal regulator, on October 31,2022.
The Company's default announcement on October 28, 2022(the " DefaultAnnouncemen t") and subsequent bi-weeklyannouncement on November 14, 2022 (together, the " Previous Announcements "), explained that the Company was unable to file itsaudited consolidated financial statements, its management's discussionand analysis and related officer certifications for the year endedJune 30, 2022 (collectively, the " Required Documents "), before the prescribed deadline of October 28, 2022primarily due to the Company's change of business that occurredearlier this year and the requirement to consolidate its financialstatements to include the new business.
Further to the Previous Announcements, G2 no longeranticipates being able to file the Required Documents by November 30,2022 due to changes in the audit procedures and the Company'sauditor's internal requirements and auditor bandwidth issues. TheCompany now anticipates being able to file the Required Documents onor before December 30, 2022.
Pursuant to the provisions of the alternativeinformation guidelines specified in NP 12-203, the Company confirmsthat, as of the date of this news release and except as noted above,(a) there have been no material changes to the information containedin the Default Announcement that would reasonably be expected to bematerial to an investor; (b) there have been no failures by theCompany to fulfill its stated intentions with respect to satisfyingthe provisions of the alternative reporting guidelines under NP12-203; (c) there has not been, nor is there anticipated to be, anyspecified default subsequent to the default which is the subject ofthe Default Announcement; and (d) there is no other materialinformation concerning the affairs of the Company that has not beengenerally disclosed.
The Company confirms it will continue to satisfy theprovisions of the alternative information guidelines set out in NP12-203 so long as it remains in default of the requirement to file theRequired Documents.
On Behalf of the Board,
“SamWong”
Sam Wong
CFO
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.
Copyright (c) 2022 TheNewswire - All rights reserved.