(Vancouver, BC): G2 Technologies Corp. (CSE:GTOO, OTCQB:GTGEF, FWB:1NZ.F) (the “Company”  or “G2”) announces it has signed a binding Letter of Intent (the ”LOI”) dated July 19, 2021 with an  arm’s length LLC based in Texas (“OpCo”) whereby G2 proposes to acquire certain operated producing  properties in the Serbin Field in Texas (the ”Property”). 

This basic terms of the LOI contemplate that G2 will make a cash payment of $8.0 Million USD to OpCo at  closing in order to acquire the Property. G2 and OpCo are negotiating the terms of a definitive purchase and  sale agreement (“PSA”) with respect to the acquisition. G2 has 10 business days from the execution of the PSA  to pay OpCo a non-refundable 5% deposit ($400,000 USD).  

The acquisition is expected to constitute a Change of Business (”COB”) for G2 pursuant to Policy 8 of the  Canadian Securities Exchange (“CSE”). Final approval of the COB remains subject to a number of conditions,  including but not limited to the execution of the PSA, receipt of shareholder approval or shareholder consent  and receipt of CSE approval. 

Trading of G2’s common shares will be halted upon the announcement of the PSA. The proposed acquisition  and the Company’s intended business following the acquisition will be fully described in a CSE Form 2A Listing  Statement. Following CSE review of the disclosure and receipt of conditional listing approval from the CSE,  the Company will seek either shareholder approval or shareholder consent to close the acquisition. 

G2 is planning to finance the acquisition through a combination of a debt and equity to be determined in  conjunction with its advisors. Furthermore, G2 may pay a finder’s fee in shares or cash in accordance with the  policies of the CSE.  

Slawek Smulewicz, the Chief Executive Officer of G2 commented “We are very pleased to have finally settled  on a group of mature oil assets with existing infrastructure that can provide stable cash flow and provide  accretive value for our shareholders and stakeholders. The new team of financial advisors and highly skilled  operators that we have assembled will be keys to capitalizing on this opportunity. This acquisition is truly  transformational for G2 Technologies as we are well positioned to take advantage of a recovering oil and gas  sector.”  

On Behalf of the Board, 

“Slawek Smulewicz” 

Slawek Smulewicz  

Chief Executive Officer and Director 

O: +1 778 775 4985 

T: @energy_g2

E: slawek@g2technologies.biz 

W: WWW.G2.ENERGY 

About G2 Technologies Corp. 

G2 Technologies Corp. is focused on developing opportunities in energy sector. G2’s head office is located in  Vancouver, Canada. Follow G2 on twitter @energy_g2 today!

G2 Technologies Corp. 

1105-808 Nelson Street, Vancouver BC, V6Z 2H2 | T +1 778 775-4985 

The Canadian Securities Exchange has neither approved nor disapproved the information contained herein.  

Forward-Looking Statements Caution. Statements in this press release regarding the Company which are not historical  facts are “forward-looking statements” that involve risks and uncertainties, such as the completion of the proposed  acquisition. Such information can generally be identified by the use of forwarding-looking wording such as “may”,  “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since  forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and  uncertainties such as the risk that the closing of the acquisition may not occur for any reason. The Company provides  forward-looking statements for the purpose of conveying information about current expectations and plans relating to  the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this  information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the  possibility that expectations, forecasts, predictions, projections or conclusions may not prove to be accurate, that  assumptions may not be correct and that objectives, strategic goals and priorities may not be achieved. These risks and  uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s  SEDAR profile at www.sedar.com. Forward-looking statements in this news release include the statements that list out  the terms of the proposed acquisition. Actual results could differ materially from those currently anticipated due to factors  such as: (i) the decision to not close the acquisition for any reason, including adverse due diligence results or CSE refusal of the acquisition; or (ii) adverse market conditions. Although the Company has attempted to identify important factors  that could cause actual actions, events or results to differ materially from those described in forward-looking information,  there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can  be no assurance that such information will prove to be accurate as actual results and future events could differ materially  from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any  forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

Media Contact

Company Name
G2 Technologies Corp.
Contact Name
Slawomir Smulewicz
Phone
+1 778 775 4985
Address
1105-808 Nelson St
City
Vancouver
State
British Columbia
Country
Canada
Website
http://www.g2.energy/

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