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TORONTO, Jan. 07, 2026 (GLOBE NEWSWIRE) -- O2Gold Inc. (NEX:OTGO.H) ("O2Gold" or the "Company") is pleased to provide an additional update on its pending acquisition of a gold mining exploration property in Quebec through the purchase of all of the issued and outstanding shares of Quebec Aur Ltd. (the "Target") pursuant to a share exchange agreement entered into by the Company with the Target and its shareholders dated April 15, 2024, as amended November 14, 2024 (the "Acquisition").

The Company received an extension from the TSX Venture Exchange to close its previously announced non-brokered private placement financing of 18 million units and 16 million flow-through common shares for aggregate gross proceeds to the Company of $1.7 million (the "Offering"). The Company now has until February 7, 2026, to close the Offering.

The parties continue to work diligently to complete the remaining legal formalities in relation to the Acquisition, which is now expected to close (along with the Offering) in early February 2026, subject to the satisfaction or waiver of certain conditions. The Acquisition is more fully described in the Company's press releases dated April 15, 2024, April 23, 2024, April 24, 2024, May 30, 2024, ...