June 16, 2021 – TheNewswire - Vancouver, BC - G2 Technologies Corp. (CSE:GTOO), (CNSX:GTOO.CN), (OTC:GTGEF), (FWB:1NZ.F) (the “Company” or “G2”) announced today it has signed a Letter of Interest on June 14, 2021 (the “LOI”) with an exclusivity period to conduct due diligence to acquiring 100% of a producing oil and gas field located in southern California.
After the initial due diligence was completed on behalf of the seller, (a Nasdaq listed Oil and Gas company) the Company’s proposal was accepted and the Company secured 30 days of exclusivity in order to complete its due diligence and move into a Sales and Purchase phase thereafter.
The Company is in the process of finalizing its due diligence within the exclusivity period and is now preparing a Purchase and Sales agreement. (the “PSA”). The Company does not anticipate any regulatory or governmental approvals to delay this transaction. To be clear, the proposal is subject to both parties agreeing to the final terms and conditions within the PSA. Subsequently, the Company will provide additional updates in connection with the transaction as material events develop.
Slawek Smulewicz (G2 Technologies Corp. CEO) commented “We are very pleased to be executing on G2’s vision of creating shareholder value by acquiring high value revenue producing assets.”
On Behalf of the Board,
Chief Executive Officer and Director
O: + 1 778 775 4985
About G2 Technologies Corp.
G2 Technologies Corp. is focused on developing opportunities in clean tech and emerging technologies. G2’s head office is located in Vancouver, Canada.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein.
Forward-Looking Statements Caution. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions may not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities may not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
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