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    GTOO   CA36260L2012

G2 TECHNOLOGIES CORP.

(GTOO)
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G2 Technologies Corp. (CNSX:GTOO ) entered into a letter of intent to acquire Producing Gas Properties in Texas from OpCo for $8 million.

07/21/2021 EDT

G2 Technologies Corp. (CNSX:GTOO ) entered into a letter of intent to acquire Producing Gas Properties in Texas from OpCo for $8 million on July 19, 2021. on August 23, 2021, G2 Technologies signed a Purchase and Sales Agreement (the ”PSA”) with TriVista Oil Co. LLC. The PSA requires G2 to pay a non-refundable 5% deposit ($0.4 million) on or about September 7th, 2021 to secure the transaction. The final terms of this PSA require an additional cash payment of $7.6 Million upon closing. G2 Technologies has confirmed that it has paid the non-refundable 5% deposit ($0.4 million) and secured the transaction. G2 is planning to finance the acquisition through a combination of a debt and equity to be determined in conjunction with its advisors. Furthermore, G2 is contemplating the payment of a finder’s fee in shares or cash. The acquisition is expected to constitute a Change of Business (”COB”) for G2 pursuant to Policy 8 of the Canadian Securities Exchange (“CSE”). As per the article on August 24, G2 Technologies completed the necessary due diligence. Final approval of the COB remains subject to a number of conditions, including but not limited to the execution of the PSA, receipt of shareholder approval or shareholder consent and receipt of CSE approval. G2 and OpCo are negotiating the terms of a definitive purchase and sale agreement. The closing date of the transaction is scheduled to be on or about October 22nd, 2021. The closing date of the transaction is scheduled to be on or about October 20, 2021.


ę S&P Capital IQ 2021
All news about G2 TECHNOLOGIES CORP.
09/09G2 TECHNOLOGIES : provides project down payment
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08/25G2 Technologies Corp. announced that it expects to receive CAD 0.8 million in funding
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08/24G2 TECHNOLOGIES : signs Purchase and Sales Agreement for Producing Texas oil property
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08/24G2 TECHNOLOGIES : IIROC Trading Halt - GTOO
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07/21G2 TECHNOLOGIES : IIROC Trade Resumption - GTOO
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07/21G2 TECHNOLOGIES : Signs Binding LOI to Acquire Producing Gas Properties
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07/21G2 TECHNOLOGIES : IIROC Trading Halt - GTOO
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07/21G2 TECHNOLOGIES CORP. (CNSX : GTOO ) entered into a letter of intent to acquire Producing ..
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07/07G2 TECHNOLOGIES : Enters into Agreement With CM-Equity AG
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06/22G2 Technologies Corp. Announces Its Advisory Board
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More news
Financials
Sales 2020 0,57 M 0,45 M 0,45 M
Net income 2020 -0,74 M -0,59 M -0,59 M
Net Debt 2020 0,39 M 0,31 M 0,31 M
P/E ratio 2020 -1,35x
Yield 2020 -
Capitalization 2,38 M 1,87 M 1,88 M
EV / Sales 2019 2,46x
EV / Sales 2020 2,46x
Nbr of Employees -
Free-Float 95,2%
Chart G2 TECHNOLOGIES CORP.
Duration : Period :
G2 Technologies Corp. Technical Analysis Chart | GTOO | CA36260L2012 | MarketScreener
Income Statement Evolution
Managers and Directors
Slawek Smulewicz President, Chief Executive Officer & Director
Sam K. Wong Chief Financial Officer
Andrew Lee Director
Kai Hensler Director
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