O2Gold Inc. announced that the TSX Venture Exchange has granted an extension of 30 days for filing final documentation with respect to its previously announced acquisition of a gold mining project in Colombia (the ‘Acquisition’). The Company is working diligently to complete the remaining conditions to closing, particularly the Company’s previously announced non-brokered private placement financing of up to 25 million units for gross proceeds of up to $5 million (the ‘Offering’). Closing of the Offering and the satisfaction of the other closing conditions for the Acquisition are expected to occur in mid to late March 2021. The project consists of interests in 26 mining claim titles and applications in Antioquia, Colombia. The closing of the Acquisition remains subject to the satisfaction of customary conditions precedent, including the receipt of regulatory approvals in Colombia, the final approval of the TSXV, completion of the Offering, and other closing conditions found in similar transactions. In addition, the Company announces that it has entered into a marketing services agreement with Hybrid Financial Ltd. (‘Hybrid Financial’). Hybrid Financial is a sales and distribution company that actively connects issuers to the investment community across North America. Pursuant to the agreement, Hybrid Financial will assist O2Gold in all aspects of its marketing campaign to increase investor awareness by advancing O2Gold's communications strategy with shareholders, investors, investment dealers and other North American financial professionals. The agreement with Hybrid Financial is effective for a 6-month term and, subject to the prior approval of the TSX Venture Exchange, Hybrid Financial is entitled to receive a lump sum fee of $135,000. Hybrid Financial is an arm’s length party from the Company and has an office in Toronto, Ontario. As of the date of this press release, neither Hybrid Financial nor any of its directors or officers own any securities of the Company.