G2 Technologies Corp. announced it signed a binding letter of intent ("LOI") dated December 3rd with a group of private arm's length sellers from Texas (the "Sellers"), to acquire 100% interest of thirty(30) operated producing oil wells located in Cochran County, Texas (the "Property"). The basic terms of the LOI contemplate that G2 will pay a cash consideration of USD 4,000,000 and issue USD 200,000 worth of G2's common shares, 90 days after closing, subject to regulatory approval. G2 and the Sellers are negotiating the final terms of the definitive agreement (the "Definitive Agreement") with respect to the acquisition and G2 anticipates the Definitive Agreement to be signed in the coming days.