TORONTO, Sept. 29, 2022 (GLOBE NEWSWIRE) -- On September 27, 2022, Newdene Gold Inc., an Ontario company operating in the investment industry, acquired an aggregate of 2,500,000 units (each, a “Unit”) of O2Gold Inc. (the “Company“) (NEX: OTGO.H) pursuant to a private placement at $0.05 per Unit for an aggregate cost of $125,000. Each Unit consists of one common share of the Company (each, a “Common Share”) and one Common Share purchase warrant (each, a “Warrant”). Each Warrant entitles Newdene Gold Inc. to acquire one additional Common Share at an exercise price of $0.075 for a period of 12 months from issuance. Prior to the acquisition of the aforesaid securities, Newdene Gold Inc. held 15,000 Common Shares, representing 0.11% of the outstanding Common Shares on a non-diluted basis. As a result of this transaction, Newdene Gold Inc. now owns 2,515,000 Common Shares and 2,500,000 Warrants, which represents approximately 10.73% of the outstanding Common Shares on a non-diluted basis and 19.38% on a partially diluted basis.
Newdene Gold Inc. acquired the Common Shares for investment purposes. Newdene Gold Inc. may acquire additional securities of the Company in the future, may dispose of some or all of the securities or may continue to hold his current position.
A copy of the early warning report filed in respect of the transaction described above is available under the Company’s profile on SEDAR at www.sedar.com.
For further information or to request a copy of the early warning report please contact:
Newdene Gold Inc.
198 Davenport Road
Toronto, Ontario
M5R 1J2
Kam.gill@forbesmanhattan.com
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