Vancouver, BC – TheNewswire – November 2, 2021 – G2 Technologies Corp. (CSE: GTOO) (OTC: GTGEF) (FWB:1NZ.F) (the “Society” Where “G2”) announces today it reserved the name of G2 Energy Corp. with the BC Registrar of Companies and intends to change the company name from G2 Technologies Corp. to G2 Energy Corp. (the “Name change”) in the near future to reflect its new direction in the energy sector. The Company will provide additional information on this in due course.
Moreover, the Society completed the formation of three new subsidiaries in Canada and the United States to facilitate an oil and gas transaction. The Subsidiaries will be registered as holding companies, in Canada under the name “G2 Energy USA Corp” and in the United States as “G2 Energy Holding US Inc.” and “G2 Energy TX1 Inc.” to facilitate future transactions in Texas.
the Society wishes to provide an update in accordance with the terms and conditions of the Purchase and Sale Agreement (the “Message of public interest”) entered into between the Company and TriVista Oil Co. LLC (“TriVista“), as previously announced on August 24, 2021. The Company has delivered to TriVista a Notice of Default (the “Notice of Default”) and notified TriVista of its early termination of the PSA.
Pursuant to the Notice of Default, the Company alleges certain defects of title, certain defects and certain misrepresentations by TriVista of its obligations under the PSA, dated August 23, 2021 entered into between the Company and TriVista. Due to the alleged defects of title, defects and misrepresentations specified in the Notice of Default, the Company has terminated the PSA and provided written instructions to the Escrow Agent (the “Escrow Agent“) pursuant to the Escrow Agreement (the “Escrow Agreement“) entered into between the Company, TriVista and the escrow agent on September 7, 2021, to immediately pay the Company the deposit amount of USD 400,000 (the “Deposit”).
“The company is considering making another acquisition which has already been identified and evaluated.” said Slawek Smulewicz, CEO of G2 Technologies Corp. He added that “additional information will be provided in the near future.”
On behalf of the Board of Directors,
Chairman and Chief Executive Officer and Director
O: +1 778 775 4985
About G2 Technologies Corp.
G2 Technologies Corp. focuses on developing opportunities in the energy sector. G2’s head office is located in Vancouver, Canada.
The Canadian Securities Exchange has neither approved nor disapproved of the information contained in this document.
Forward-Looking Statements Caution. This press release contains forward-looking statements subject to risks and uncertainties. All statements contained herein, other than statements of historical fact, should be considered forward-looking. 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 which may be general or specific and which give rise to the possibility that the expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that the assumptions correct and that the objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include, but are not limited to, the Company’s ability to complete the financing, raise sufficient capital to complete the acquisition announced in the Company’s press release dated August 24, 2021 and other risks and uncertainties identified and disclosed in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking information, there may be other factors that cause the actions , events or results are not those 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, except as required by law.