G2 Technologies provides project down payment
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September 9, 2021 - TheNewswire - Vancouver, BC - G2 Technologies Corp. (CNSX:GTOO.CN) (OTC:GTGEF) (FWB:1NZ.F) (the “Company” or “G2”) announces today it has initiated payment as per the terms of the Purchase and Sales Agreement (the ”PSA”) with Trivista Operating LLC (“TRI”) a corporation based in Texas to acquire certain operated producing properties in the Serbin Field in Texas (the ”Property”).
The Company has confirmed that it has paid the non-refundable 5% deposit ($400.000.00 USD) and secured the transaction. The closing date of the transaction is scheduled to be on or about October 20, 2021. The final terms of this PSA will require an additional cash payment of $7.6 Million USD upon closing.
The Chief Executive Officer of G2, Slawek Smulewicz, explained, “We have now delivered the key equity component of this transaction which was necessary in order to complete the subsequent debt structuring. We continue to execute on our strategic plan and would like to acknowledge the participation in the equity financing of all of our long-time shareholders as well as all of our new shareholders for making this possible.”
On Behalf of the Board,
“Slawek Smulewicz”
Slawek Smulewicz
Chief Executive Officer and Director
O: +1 778 775 4985
W : WWW.G2.ENERGY
About G2 Technologies Corp.
G2 Technologies Corp. is focused on developing industrial opportunities. 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. Statements in this press release regarding the Company which are not historical facts are “forward-looking statements” that involve risks and uncertainties, such as the completion of the proposed acquisition. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that the closing of the acquisition may not occur for any reason. 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. Forward-looking statements in this news release include the statements that list out the terms of the proposed acquisition. Actual results could differ materially from those currently anticipated due to factors such as: (i) the decision to not close the acquisition for any reason, including adverse due diligence results or CSE refusal of the acquisition; or (ii) adverse market conditions. 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.