(TheNewswire)
June 16, 2021 – TheNewswire - Vancouver, BC - G2 TechnologiesCorp. (CSE:GTOO ) , (CNSX:GTOO.CN), ( OTC:GTGEF ) , ( FWB:1NZ.F) (the“ Company ” or “ G2 ”) announced todayit has signed a Letter of Interest on June 14, 2021 (the“ LOI ”) with an exclusivity period to conduct due diligence toacquiring 100% of a producing oil and gas field located in southernCalifornia.
After the initial due diligence was completed on behalfof the seller, (a Nasdaq listed Oil and Gas company) the Company’sproposal was accepted and the Company secured 30 days of exclusivityin order to complete its due diligence and move into a Sales andPurchase phase thereafter.
The Company is in the process of finalizing its duediligence within the exclusivity period and is now preparing aPurchase and Sales agreement. (the “ PSA ”). The Companydoes not anticipate any regulatory or governmental approvals to delaythis transaction. To be clear, the proposal is subject to both partiesagreeing to the final terms and conditions within the PSA. Subsequently, the Company will provide additional updates inconnection with the transaction as materialevents develop.
Slawek Smulewicz (G2 Technologies Corp. CEO) commented“ We are very pleased to beexecuting on G2’s vision of creating shareholder value by acquiringhigh value revenue producing assets. ”
On Behalf of the Board,
“ SlawekSmulewicz ”
Slawek Smulewicz
Chief Executive Officer and Director
O: + 1 778775 4985
W: g2.energy
About G2Technologies Corp.
G2 Technologies Corp. isfocused on developing opportunities in clean tech and emergingtechnologies. G2’s head office is located in Vancouver,Canada.
The Canadian Securities Exchange hasneither approved nor disapproved the information contained herein.
Forward-Looking StatementsCaution . This news releaseincludes forward-looking statements that are subject to risks anduncertainties. All statements within, other than statements ofhistorical fact, are to be considered forward-looking. The Companyprovides forward-looking statements for the purpose of conveyinginformation about current expectations and plans relating to thefuture 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 those identified andreported in the Company’s public filings under the Company’s SEDARprofile at www.sedar.com. 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 from thoseanticipated in such statements. The Company disclaims any intention orobligation to update or revise any forward-looking information,whether as a result of new information, future events or otherwiseunless required by law.
Copyright (c) 2021 TheNewswire - All rights reserved.