Origin Gold Corporation (TSXV:OIC) signed a binding letter of intent to acquire Otu Central Project from Bullet Holding Corporation for CAD 12.2 million on July 6, 2020. Origin Gold Corporation entered into an agreement to acquire Otu Central Project from Bullet Holding Corporation for CAD 12.2 million on October 26, 2020. Origin Gold Corporation entered into an amended agreement to acquire Otu Central Project from Bullet Holding Corporation for CAD 14.4 million on November 30, 2020. The deal value is payable as approximately CAD 1.36 million in cash and with the remainder payable in shares, (in each case subject to approval of the TSXV Venture Exchange), following completion of a private placement of Origin Gold’s common shares for proceeds of greater than CAD 4 million (the “financing”), that number of common shares equal to approximately CAD 4 million divided by the share price of the financing, on the one-year anniversary of the execution of the definitive agreement entered into in connection with the acquisition (the “definitive agreement”), that number of common shares equal approximately CAD 3.4 million) divided by the 30-day volume weighted average price (“VWAP”) of the shares of Origin Gold on the TSXV for the period immediately prior to the date such shares are issued and on the two-year anniversary of the execution of the definitive agreement, that number of common shares equal to approximately CAD 3.4 million divided by the 30-day VWAP of the Shares on the TSXV for the period immediately prior to the date such shares are issued. As per the amended agreement between Origin Gold Corporation and Bullet Holding Corporation, consideration will be paid only in shares, by issuance of no more than 57.777778 million shares at a price of not less than CAD 0.18 per share. Bullet will retain a perpetual 2% net smelter return royalty affecting the entire Otu Central Project. Origin Gold is acquiring the assets free of debt and will also acquire the related infrastructure. Pursuant to the letter of intent, Origin Gold shall acquire all of the issued and outstanding shares of a newly formed entity (“NewCo”) that will own 100% of the assets. Origin Gold Resources Inc intends to use the net proceeds of the private placement of CAD 5 million to satisfy payment obligations in connection with the acquisition of gold mining project. additional flexibility to raise the funds required pursuant to the share purchase agreement as amended, the vendors agreed that such funds may be raised through loans or the exercise of certain of its outstanding common share purchase warrants. In addition, Bullet shall be entitled to nominate one individual for election to Origin Gold’s board of directors at its annual general meeting held each year and shall be entitled to participate in any of Origin Gold’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 of Origin Gold. The acquisition remains subject to a number of conditions, including the preparation and execution of the definitive agreement, approval of TSXV, receipt of regulatory approvals in Colombia and the provision of applicable legal opinions concerning the titles to the assets and other closing conditions customarily found in transactions similar to the acquisition. As of December 11, 2020, transaction has been conditionally approved by TSX Venture Exchange. The closing of the acquisition remains subject to final approval of the TSXV (including the completion of a technical report and the provision of financial statements, a financial plan and a legal title opinion), Origin Gold Corporation shareholder approval for the creation of a new Control Person (as that term is defined under the applicable policies of the TSXV), and other closing conditions found in similar transactions, which are to be satisfied early in the first quarter of 2021. As of January 8, 2021 Origin Gold Corporation is working diligently to complete the remaining conditions to closing, which management expects will be satisfied early in the first quarter of 2021. Origin Gold is preparing for its special meeting of shareholders, on January 12, 2021, at which the Company expects to receive shareholder approval for matters related to the Acquisition. As of February 8, 2021, Origin Gold Corporation is working diligently to complete the remaining conditions to closing, particularly previously announced non-brokered private placement financing. Closing of the Offering and the satisfaction of the other closing conditions for the Acquisition are expected to occur in March 2021. As of March 9, 2021 TSX Venture Exchange (“TSXV”) has granted an extension of 30 days for filing final documentation with respect to the transaction. As of January 12, 2021, Origin Gold shareholders approved the deal. The acquisition is expected to be completed by no later than December 31, 2020. As on October 28, 2020, Origin Gold Corporation reported that the acquisition expected to be completed no later than March 31, 2021. As of March 29, 2021 the parties agreed to extend the outside date from March 31, 2021 to May 31, 2021. As of April 12, 2021, the transaction is expected to be completed in April, 2021. Origin Gold Corporation (TSXV:OIC) completed the acquisition of Otu Central Project from Bullet Holding Corporation on April 23, 2021. The remaining CAD 5 million of the consideration shall be payable by the issuance of: on October 26, 2021, that number of common shares of O2Gold Inc. (the Shares) equal to CAD 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) CAD 0.18; and on October 26, 2022, that number of shares equal to approximately CAD 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) CAD 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 connection with the acquisition, O2Gold Inc. has appointed Mr. Robert W. Allen, a nominee of Bullet, to the O2Gold Inc. Board of Directors, effective immediately. As of June 15, 2021 $2.5 million payable in up to 18,055,556 common shares of O2Gold Inc. on October 26, 2022. Bullet Holding Corporation will also retain a 2% net smelter 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.