O2Gold Inc. announced a best efforts non-brokered private placement financing of up to 10,000,000 units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 500,000 on September 14, 2022. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at an exercise price of CAD 0.075 for a period of 12 months from issuance.

The transaction is expected to close on or about September 30, 2022. All securities issued in connection with the offering will be subject to a statutory hold period of four-months and one day. The transaction is subject to a number of conditions, including without limitation, receipt of NEX approval.

No finder's fees will be paid in connection with the offering.