(TheNewswire)
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July 22, 2025 |
CSE: Frankfurt/Stuttgart: Pink: |
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Toronto, Ontario – TheNewswire - Newlox Gold Ventures Corp. (the “Corporation”) is pleased to announce that it intends to raise gross proceeds of up to $2,000,000 through a non-brokered private placement (the “Private Placement”) of up to 28,571,429 units (the “Units”) of the Corporation at a price of $0.07 per Unit.
Each Unit shall consist of one common share (“Share”) in the capital of the Corporation and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder thereof to acquire one common share of the Company (each a “Warrant Share”) at a price of $0.12 per Warrant Share for a period of 36 months following the date of issuance.
The Corporation is also pleased to announce that three (3) insiders intend to participate in the Private Placement in the aggregate amount of $585,000. The insiders that will be participating are: Mr. Dent for $140,000, Mr. Benevides for $420,000 and Mr. MacKay for $25,000.
Any participation by insiders in the Private Placement will constitute a “related party transaction” as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Corporation expects such participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, is expected to exceed 25% of the Company's market capitalization.
The proceeds from the Private Placement will be used to fund the Corporation’s current operations in Costa Rica and for general working capital.
The non-brokered private placement is subject to all necessary regulatory approvals. The securities being issued in the private placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws.
About Newlox Gold Ventures Corp.
Newlox Gold Ventures Corp. is an emerging precious metals producer dedicated to the recovery of gold and silver from artisanal and small-scale mining operations across Latin America. The Company leverages technology to recover precious metals while remediating historical mine waste and contributing to local economic development.
For further details, please contact:
647.848.5843
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).
Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Newlox is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this release. Newlox cannot assure investors that actual results will be consistent with these forward-looking statements and Newlox assumes no obligation to update or revise the forward-looking statements contained in this release to reflect actual events or new circumstances.
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