Newlox Gold Announces Private Placement
Vancouver, BC - TheNewswire - 19 May 2020 - Newlox Gold Ventures Corp. ("Newlox" or the "Company") (CSE:LUX) (CNSX.LUX.CN) (Frankfurt:NGO) announces a non-brokered private placement financing (the "Offering") of up 10,000,000 units of the Company (the "Units") at a price of $0.05 per Unit (the "Unit Price") for gross proceeds of up to $500,000. Each Unit comprises one common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.10 for a period of 2 years from closing of the Offering.
All securities to be issued pursuant to the Offering will be subject to a 4-month hold period under applicable securities laws in Canada.
The Company may compensate persons who act as finders for the Offering in accordance with the rules of the Canadian Securities Exchange ("CSE").
The proceeds from the Private Placement will be used to support operations, secure its intention to establish a second clean gold production facility, and for general working capital.
About Newlox Gold Ventures Corp.
Newlox has identified a niche within the extractive industry where a clean-technology company can apply innovative processing techniques to not only recover precious metals but also affect positive change in the environmental and social landscape in its targeted jurisdictions of operations.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking information. Forward-looking information includes, but is not limited to, the completion of the work programs currently underway and the results of these programs. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, achievements, or performance may vary materially from those anticipated and indicated by these forward-looking statements. The material risk factors that could cause actual results to differ include the risk that work undertaken by the Company may have unintended effects, the risk of delays in completing work, and the risk that the Company may not be able to raise sufficient funds and Force Majeure. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, it can give no assurances that the expectations of any forward-looking information will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release).
The Company advises it is not basing any decision to produce on a feasibility study of reserves demonstrating the economic and technical viability of the project and also advises there is increased uncertainty and specific economic and technical risks of failure associated with any production decision. Stewart A. Jackson, Ph.D., P.Geo., a "Qualified Person" within the meaning of National Instrument 43-101, has prepared, supervised the preparation of, and approved the contents of this News Release.
On Behalf of the Board, Newlox Gold Ventures Corp.
Newlox Gold Ventures Corp., President
Phone: +1 778 738 0546