O2Gold Announces Private Placement and Revised Date for Annual General and Special Meeting of Shareholders
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, May 28, 2026 (GLOBE NEWSWIRE) -- O2Gold Inc. (NEX:OTGO.H) (“O2Gold” or the “Company”) announces that it intends to complete a best efforts non-brokered private placement financing of up to 4,000,000 common shares at a price of $0.05 per share for gross proceeds of up to $200,000 (the “Offering”).
Closing of the Offering is expected to occur on or about June 30, 2026. All securities issued in connection with the Offering will be subject to a statutory hold period of four-months and one day. Finder’s fees may be paid to eligible finders in accordance with the policies of the TSX Venture Exchange (“TSXV”) consisting of a cash commission equal to up to 8% of the gross proceeds raised under the Offering and finder warrants (“Finder Warrants”) in an amount equal to up to 8% of the number of Common Shares sold pursuant to the Offering. Completion of the Offering is subject to a number of conditions, including without limitation, receipt of TSXV approval. Each Finder Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.075 per share for a period of 12 months following the closing date of the Offering. The Company intends to use the net proceeds of the Offering for general corporate purposes.
In addition, the Company announces that it has changed the scheduled date of its upcoming annual general and special meeting of shareholders (the “AGM”). The AGM, originally planned for July 2, 2026, will now be held on August 13, 2026.
The Company is currently evaluating a potential corporate transaction that, if advanced, may require shareholder approval under applicable securities laws and TSXV policies. O2Gold has determined that rescheduling the AGM will provide management with the necessary time to complete its evaluation and ensure that any matters requiring shareholder consideration can be presented in an orderly and efficient manner.
There is no assurance that the potential transaction will proceed, and the Company will provide further updates as required in accordance with its continuous disclosure obligations.
About O2Gold
O2Gold is a mineral exploration company.
For additional information, please contact:
Scott Moore, Chief Executive Officer
Phone: (416) 861-1685
Email: smoore@miningsm.com
Cautionary statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Offering, including the Company’s intended use of proceeds, closing conditions and timing, and other matters relating thereto. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of O2Gold to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices; and other risks of the mining industry. Although O2Gold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause 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. Accordingly, readers should not place undue reliance on forward-looking information. O2Gold does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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