TORONTO, April 23, 2021 (GLOBE NEWSWIRE) -- O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce that it has closed its previously announced acquisition of a gold mining project in Colombia known as the “Otu Central Project” (the “Acquisition”). The Otu Central Project consists of interests in 26 mining claim titles and applications in the Segovia/Zaragoza regions of Antioquia in Colombia (collectively, the “Assets”). For more information about the Acquisition, please see the Company’s press releases dated October 28, 2020, November 30, 2020 and December 11, 2020, which are available under the Company’s SEDAR profile at www.sedar.com.Terms of the AcquisitionPursuant to the terms of the share purchase agreement dated October 26, 2020, as amended, (the “Share Purchase Agreement”), entered into with Bullet Holding Corp. (“Bullet”) and certain of Bullet’s directly and indirectly-owned subsidiaries, the Company acquired all of the issued and outstanding shares of Buenaventura Gold, Inc., a Panamanian company, that indirectly owns, or has been indirectly irrevocably transferred, 100% of the Assets. Total consideration for the Acquisition is US$9 million (approximately C$11.24 million) payable in cash and securities of the Company, US$1 million (approximately C$1.25 million) of which has been paid in cash and US$3 million (approximately C$3.75 million) of which has been satisfied by the issuance of 18,807,206 units of the Company, at a deemed price per unit of C$0.20. In accordance with the Share Purchase Agreement, each unit consists of the same securities that were issued by the Company in its private placement offering of units that closed on April 16, 2021 (the “Offering”). Please see the Company’s press releases dated January 14, 2021, March 22, 2021 and April 16, 2021 for additional details of the Offering, including information about the securities issued, which are also available at www.sedar.com.The remaining US$5 million (approximately US$6.24 million) of the consideration shall be payable by the issuance of:on October 26, 2021, that number of common shares of the Company (the “Shares”) equal to US$2.5 million (approximately C$3.12 million) divided by the greater of: (i) the United Stated dollar equivalent of the 30-day volume weighted average price (“VWAP”) of the Shares on the TSX Venture Exchange (“TSXV”) for the period immediately prior to the date such shares are issued and (ii) C$0.18; andon October 26, 2022, that number of Shares equal to US$2.5 million (approximately C$3.12 million) divided by the greater of: (i) the United States dollar equivalent of the 30-day VWAP of the Shares on the TSXV for the period immediately prior to the date such Shares are issued and (ii) C$0.18.In accordance with the policies of the TSXV, no more than 57,777,778 Shares may be issued as consideration for the Acquisition.
In addition, Bullet will retain a perpetual 2% net smelter return royalty on the entire Otu Central Project, with the exception of production from mining title no. T4638005, which is already affected by a 5% net smelter return royalty payable to a third party. Also under the terms of the Share Purchase Agreement, Bullet is entitled to nominate one individual for election to O2Gold’s board of directors at its annual general meeting held each year and to participate in any of O2Gold’s future private placement financings on a pro rata basis in order for it to maintain its percentage ownership position, in each case for so long as Bullet holds at least 10% of the issued and outstanding Shares.The Assets are located in the Segovia/Zaragoza regions of Antioquia in Colombia and cover approximately 24,255 hectares. O2Gold has acquired the Assets free of debt along with any related infrastructure. Bullet has agreed to contribute exploration expertise and community relationships developed during several years of grassroots exploration.The Acquisition is an arm’s length transaction for the purposes of the policies of the TSXV. O2Gold is not paying any finder’s fees in connection with the Acquisition.Appointment of DirectorAlso in connection with the Acquisition, the Company has appointed Mr. Robert W. Allen, a nominee of Bullet, to the Company’s board of directors, effective immediately.
Robert W. Allen is the founder and Chairman of Grupo de Bullet, a mineral exploration company active in Colombia since 1984, longer than any international mining company. Allen built and operated Continental Gold and its flagship deposit; Continental sold to Zijin for C$1.4 billion in 2020. Grupo de Bullet has also discovered or contributed to the discovery of nearly every major Colombian deposit of the last two decades. Allen is a native of Arkansas, where he lives. Through Grupo de Bullet, he remains one of the largest mineral rights holders in Colombia.“We are very excited to welcome Bob to the board. His vision and expertise are an immeasurable asset to O2Gold Inc.,” said the CEO of O2Gold, Jaime Lalinde. “He has had a tremendous impact on Colombia’s precious metals industry, and, with his help, we expect to continue the great and historic work he and his nephew Robert Neill have done here. Additionally, O2Gold intends to begin to actively pursue the option of acquiring production and processing capacity in the region.”Additional ConsiderationThe Company is also pleased to announce that, in addition to the $3,478,000 in gross proceeds raised pursuant to the Offering, $625,500 was raised through the exercise of warrants held by certain of its warrantholders.Miscellaneous
Due to a clerical error made by a finder, the Company also announces that additional finder’s fees were paid pursuant to the Offering as follows. An additional C$3,850 in cash was paid and an additional 19,250 non-transferable finder’s warrants (“Finder’s Warrants”) were issued to Haywood Securities Inc. in accordance with the policies of the TSXV. Each Finder’s Warrant entitles the holder thereof to acquire one Share at a price of $0.20 at any time prior to April 16, 2023.All securities issued in connection with the Offering are subject to a statutory hold period of four-months and one day, expiring on August 17, 2021.About O2GoldO2Gold is a mineral exploration company with activities in Colombia.For additional information, please contact:
Jaime Lalinde, President and CEOPhone: (57) 312 350 5864Email: email@example.comCautionary Note Regarding Forward-looking InformationThis press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation.Forward-looking information includes, but is not limited to, statements with respect to the Acquisition, including in connection with the Company’s future payment obligations, and the Company’s intention to pursue acquisitions of production and processing capacity in Colombia. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause 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. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Crude oil prices opened the new week lower on renewed concerns related to supply and demand forecast. Fundamental analysis: Uncertainty surrounding supply and demand outlook Brent crude futures and U.S. West Texas Intermediate (WTI) fell last week as investors were worried over the pandemic’s unclear impact on fuel demand and increasing supplies from major producers. Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today. The Organization of the Petroleum Exporting Countries (OPEC) and its allies, also known as the OPEC+, decided to hike supplies by 2 million barrels per day between May and July, weighing on the two contracts. World’s oil inventories are expected to continue dropping, however, analysts believe the fuel demand is likely to rise as well in the second half of 2021 as the global economic recovery gains momentum. “A lot of destocking is going on, so we are well into the rebalancing process,” said Energy Aspects analyst Virendra Chauhan. Still, physical markets will have to pick up before prices and inter-month spreads could climb. On the other hand, reimposed lockdown measures in some countries and issues with vaccination programmes could also affect the oil demand. “Oil is currently in a wait and see mode, with market participants looking at the vaccination pace to understand when oil demand will recover further and at nuclear talks in Vienna to see when more Iranian barrels might come back,” said Giovanni Staunovo, a commodity analyst at UBS. Axi’s head global markets strategist Stephen Innes expects oil prices to trade in a range between $60 and $70 as investors weigh address these factors. Tip: looking for an
NEW YORK, April 23, 2021 /PRNewswire/ -- Technavio has been monitoring the consumer electronics and home appliances market in India and it is poised to grow by $ 2.12 bn during 2021-2025, progressing at a CAGR of over 1% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.Download Free sample report Frequently Asked Questions:
What are the major trends in the market?The adoption of smart and advanced features in home appliances is a major trend driving the growth of the market. At what rate is the market projected to grow?The market will accelerate at a CAGR of o over 1% and the incremental growth of the market is anticipated to be $ 2.12 bn. Who are the top players in the market?AB Electrolux, Haier Smart Home Co. Ltd., Hitachi Ltd., Koninklijke Philips NV, LG Electronics Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sony Corp., Toshiba Corp., and Whirlpool Corp., are some of the major market participants. What is the key market driver?The increasing demand for premium appliances is one of the major factors driving the market. Related Reports on Consumer Discretionary Include:Automotive Audio Speakers Market by Application and Geography - Forecast and Analysis 2021-2025- The automotive audio speakers market has the potential to grow by USD 6.38 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 7.29%. Download FREE sample reportBuy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.View market snapshot before purchasingThe market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AB Electrolux, Haier Smart Home Co. Ltd., Hitachi Ltd., Koninklijke Philips NV, LG Electronics Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sony Corp., Toshiba Corp., and Whirlpool Corp. are some of the major market participants. The increasing demand for premium appliances will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this consumer electronics and home appliances market in India forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies. Consumer Electronics and Home Appliances Market in India 2021-2025: Segmentation
Consumer Electronics and Home Appliances Market in India is segmented as below:Product Consumer Electronics Home AppliancesTo learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR70516Consumer Electronics and Home Appliances Market in India 2021-2025: ScopeTechnavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The consumer electronics and home appliances market in India report covers the following areas:Consumer Electronics and Home Appliances Market in India Size Consumer Electronics and Home Appliances Market in India Trends Consumer Electronics and Home Appliances Market in India Industry AnalysisThis study identifies the adoption of smart and advanced features in home appliances as one of the prime reasons driving the consumer electronics and home appliances market in India growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.Register for a free trial today and gain instant access to 17,000+ market research reports. Download Free sample reportConsumer Electronics and Home Appliances Market in India 2021-2025: Key HighlightsCAGR of the market during the forecast period 2021-2025 Detailed information on factors that will assist consumer electronics and home appliances market in India growth during the next five years Estimation of the consumer electronics and home appliances market in India size and its contribution to the parent market Predictions on upcoming trends and changes in consumer behavior The growth of the consumer electronics and home appliances market in India across APAC, Europe, North America, MEA, and South AmericaAnalysis of the market's competitive landscape and detailed information on vendors Comprehensive details of factors that will challenge the growth of consumer electronics and home appliances market in India vendorsTable of Contents:Executive SummaryMarket Landscape
Market ecosystem Value chain analysisMarket SizingMarket definition Market segment analysis Market size 2020 Market outlook: Forecast for 2020 - 2025Five Forces AnalysisFive Forces Summary Bargaining power of buyers Bargaining power of suppliers Threat of new entrants Threat of substitutes Threat of rivalry Market conditionMarket Segmentation by ProductMarket segments Comparison by Product Consumer electronics - Market size and forecast 2020-2025 Home appliances - Market size and forecast 2020-2025 Market opportunity by ProductMarket Segmentation by StyleMarket segments Comparison by Style Freestanding - Market size and forecast 2020-2025 Built-in - Market size and forecast 2020-2025 Market opportunity by StyleCustomer landscape
Market drivers Market challenges Market trendsVendor LandscapeVendor landscape Landscape disruption Competitive ScenarioVendor AnalysisVendors covered Market positioning of vendors AB Electrolux Haier Smart Home Co. Ltd. Hitachi Ltd. Koninklijke Philips NV LG Electronics Inc. Robert Bosch GmbH Samsung Electronics Co. Ltd. Sony Corp. Toshiba Corp. Whirlpool Corp.AppendixScope of the report Currency conversion rates for US$ Research methodology List of abbreviationsAbout UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: firstname.lastname@example.orgWebsite: www.technavio.com/Report Link :https://www.technavio.com/report/consumer-electronics-and-home-appliances-market-in-India-industry-analysis
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