O2Gold Provides Update on Acquisition of Colombian Gold Project

TORONTO, March 29, 2021 (GLOBE NEWSWIRE) — O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to provide an update on its previously announced acquisition of a gold mining project in Colombia known as the “Otu Central Project” (the “Acquisition”). To allow the parties additional time to complete the previously announced $5 million financing (the “Offering”) and the remaining legal formalities in relation to the transactions contemplated in the share purchase agreement dated October 26, 2020, as amended, the parties agreed to extend the outside date from March 31, 2021 to May 31, 2021. The Acquisition and the Offering are now expected to be completed in April 2021.