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  • Writer's pictureG2 Energy

G2 Energy arranges $1.5-million private placement

Mr. Slawek Smulewicz reports


G2 Energy Corp. has arranged a non-brokered private placement financing of up to 30 million units of the company at a price of five cents per unit for aggregate gross proceeds of up to $1.5-million, which may be increased if the offering is oversubscribed.

Each unit will consist of one common share in the capital of the company and one common share purchase warrant.

Each warrant will be exercisable by the warrantholder to acquire one additional common share at a price of eight cents for a period of 12 months from the closing of the private placement.

The proceeds from the offering will be used by the company primarily for working capital and may also be used to finance a portion of the purchase price of the acquisition of certain oil properties, if necessary. The offering is expected to close on or about Jan. 30, 2023.

In consideration of the introduction to the company of investors in the offering, a finder's fee may be paid in cash or in securities of the company in accordance with applicable securities laws and Canadian Securities Exchange policies.

The completion of the offering will be subject to receipt of and all necessary regulatory approvals, including, if required, conditional approval by the exchange.

Participation of insiders of the company in the offering will constitute a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company intends to rely on the exemption from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(a) of MI 61-101 and the exemption from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(a) of MI 61-101.

The securities issued in connection with the offering will be subject to a four-month hold period under applicable Canadian securities laws commencing on the closing date of the offering.

About G2 Energy Corp.

G2 Energy is a profitable junior oil and gas producer listed on the CSE exchange. Its primary focus is to acquire and develop additional overlooked low-risk high-return opportunities in the oil and gas sector.

We seek Safe Harbor.

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