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G2 Technologies Provides Corporate Update



G2 Technologies Corp.

 

December 8, 2021 – TheNewswire - Vancouver, BC - G2 Technologies Corp. (CSE:GTOO), (CNSX:GTOO.CN),  (OTC:GTGEF), (FWB:1NZ.F) (the “Company” or “G2”) announces today it has been granted an extension of six months by the BC Registrar of Companies, to hold its 2021 Annual General Meeting of Shareholders (the "AGM") under section 182(4) of the Business Corporations Act (British Columbia). The six month extension is from December 18, 2021, to June 18, 2022.

Due to the Company’s plans for a change of business in respect of becoming an oil and gas company, the management of the Company determined that postponing the AGM would be in the best interest of its shareholders.  This extension will provide the Company sufficient time to coordinate the closing of the change of business and prepare the necessary information circular and other proxy related materials in connection with the AGM within the required timeframe.

The Company anticipates scheduling the AGM during the first quarter of 2022.  A notice of meeting and record date will be filed on SEDAR (www.sedar.com) at a later date.

In addition, as previously announced on November 2, 2021, the Company disclosed it intends to change its name from G2 Technologies Corp. to G2 Energy Corp. (the “Name Change”).  The company anticipates it will be moving forward with the Name Change shortly.  Further news releases will be disseminated in the coming weeks in connection with the proposed Name Change.

Furthermore, as previously announced on November 2, 2021, in connection with the Company delivering a notice of default to TriVista Oil Co. LLC (“TriVista”), TriVista has filed an action against the Company in the State of Texas (the “Action”) stating the Company is in breach of contract of the purchase and sale agreement previously entered into (the “Agreement”) and seeks the US$400,000 deposit (the “Deposit Amount”) to be released from escrow. The Company has filed a counterclaim in the Action seeking release of the Deposit Amount from escrow to the Company. In addition, the Company seeks the recovery of reasonable and necessary attorney’s fees associated with the Action as well as all other damages available under applicable law resulting from TriVista’s alleged breach of the Agreement and fraudulent conduct.

On Behalf of the Board,

Slawek Smulewicz

Slawek Smulewicz

Chief Executive Officer and Director

O:        +1 778 775 4985

E:        slawek@g2technologies.biz

W : WWW.G2.ENERGY

About G2 Technologies Corp.

G2 Technologies Corp. is focused on developing opportunities in the energy sector. 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.