O2Gold Provides Updates on Acquisition of Colombian Gold Project and $5 Million Financing

TORONTO, March 09, 2021 (GLOBE NEWSWIRE) — O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) announces today that the TSX Venture Exchange (“TSXV”) 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. Please see the Company’s press release dated January 14, 2021 for more information about the Offering, which is available under the Company’s SEDAR profile at www.sedar.com.