G2 Technologies Corp. (the Company or G2) announces the Company's wholly-owned subsidiary G2 Energy TX1 Inc. has signed a Purchase and Sales Agreement (the PSA) with a group of individuals and companies (collectively the Sellers) to acquire certain operated producing oil properties in Texas (the Assets). The consideration for the acquisition of the Assets is the cash sum of $4,000,000 to be paid on closing of the transaction and $200,000 worth of G2s common shares, being approximately 1,281,600 common shares at a price of CAD 0.20 per common share to be issued within ninety days after the closing date, subject to regulatory approval. In addition, G2 has agreed to issue performance shares equal to $400,000 (the Performance Shares) within ninety (90) days of the achievement of either of two triggering events (a Triggering Event) described below, provided that a Triggering Event occurs between the closing date of the acquisition and the second (2nd) anniversary of the closing date (the "Earnout Period"): (i) G2 obtains an average increase of 50% or more in daily oil production of the Assets, compared to the average daily oil production for a period of thirty (30) consecutive days prior to the closing cate, over a period of three (3) consecutive months during the Earnout Period; or (ii) an average price of $80.00 per barrel as quoted for West Texas Intermediate per the New York Mercantile Exchange over a period of one hundred twenty (120) consecutive days during the Earnout Period. The Performance Shares would be issued at a price equal to the average closing market price of G2's shares for the three (3) trading days prior to the issuance date. This transaction will qualify as a Change of Business (COB) as defined by the CSE Policy 8, and is subject to a complete review by the CSE. Final approval of this COB by the CSE remains subject to a number of conditions, including shareholder approval to be obtained at a meeting to be held in March 2022. Details of the shareholders' meeting will be announced in due course. The Company's common shares will remain halted at least until the documentation required under the CSE Policy 8 have been accepted by the CSE and posted.