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G2 Energy ( (TSE:GTOO) ) has shared an update.
G2 Energy Corp. has received a formal seven-day default notice from holders of its US$2.0 million secured convertible debenture, originally issued in May 2022 to fund the acquisition and operation of the Masten Unit in Texas and extended beyond its initial May 2024 maturity. The company’s inability to meet its payment obligations heightens financial pressure around its core producing asset and introduces added uncertainty for creditors and shareholders.
In a further governance development, Director Kai Hensler has resigned from the board effective September 17, 2025, with the company publicly thanking him for his contributions and support during recent years. The combination of looming debenture default and board-level change underscores a period of transition for G2 as it navigates capital constraints while pursuing its U.S. onshore oil and gas growth strategy.
More about G2 Energy
G2 Energy Corp. is a junior oil and gas producer listed on the CSE and FWB, focused on acquiring and developing overlooked, low-risk, high-return opportunities in the U.S. onshore sector. The company’s primary asset is the Masten Unit in the Permian Basin, Texas, which it acquired in May 2022 as its first producing property, forming the cornerstone of its growth strategy in oil and gas production.
Technical Sentiment Signal: Sell
Current Market Cap: C$520.9K
See more data about GTOO stock on TipRanks’ Stock Analysis page.