Newlox Gold Closes a Second Tranche of Non-brokered Financing for Gross Proceeds of $1.1 Million

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Newlox Gold Closes a Second Tranche of Non-brokered Financing for Gross Proceeds of $1.1 Million

Vancouver, BC, 22 December 2023 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF), announces that it has closed a second tranche of a previously announced unsecured non-brokered Convertible Debenture Financing (the “Offering”) for gross proceeds of $367,500. The total gross proceeds for both tranches are $1,152,500. The Company expects to close a third and final tranche in mid-January 2024.

The debentures’ principal amount will become due in two years from the closing date and will carry an interest rate of 10% per annum, with interest payable semi-annually. Principle and any accrued interest are convertible at the option of the investor at a conversion price of $0.15 per common share (the “Conversion Price”) from the closing date until the day before maturity. On maturity, the Company will have the option to pay the principal and any accrued interest in cash or shares at the Conversion Price.

As part of the Offering, the Company issued 2,450,000 Warrants. Each Warrant entitles the holder to purchase one common share of the Company at an exercise price of $025 for two years from the closing of the Offering.

A finder’s fee of $12,720 and 84,800 Broker Warrants were issued at an exercise price of $0.25 per common share for a period of two years from the closing date of the Offering.

All securities are issued pursuant to the Offering will be subject to a 4-month hold period under applicable securities laws in Canada.

Newlox will use proceeds from the Private Placement to support operations, expansion and grow productivity.

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.

 

Forward-Looking Information

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).

 

Technical Disclaimer

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. Grab sample results included in any press release are not necessarily indicative of the mineralization in general for the deposit. James Turner, 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.

Contact Newlox Gold

Ryan Jackson
Newlox Gold Ventures Corp., President Website:
Email: info@newloxgold.com
Phone: + 1 604 256 0493
www.newloxgold.com

Newlox Gold Procures all Equipment for Plant 2 Electrical Upgrades

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Newlox Gold Procures all Equipment for Plant 2 Electrical Upgrades

Vancouver, BC, 20 December 2023 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF), is pleased to announce that it has successfully procured all equipment needed to complete the planned electrical upgrade at its Boston Project (Plant 2) in Costa Rica. All necessary components are now on-site and in the Company’s possession. Of particular importance, given the global shortage of this equipment, is an electrical transformer, which has now been delivered and is awaiting installation on site.

The delivery of this equipment represents a significant milestone in the Company’s operations. The Boston Project will soon benefit from connection to the Costa Rican grid, which is a stable and 98% renewable electricity system.

The Boston Project is slated to become the Company’s second environmentally and socially responsible precious metals project in Costa Rica. The Project will process feedstock newly extracted from the Boston Mine by the Company’s local mining partners. At full scale, Newlox will operate the new Boston mill to process 150 tonnes per day of material grading +- 15 grams per tonne gold with an anticipated gold recovery of 90%. All feedstock is to be provided by the Company’s mining partners, with profits to be split evenly between the parties.

“Management is delighted to report that all the equipment required for the Plant 2 electrical upgrades, including the transformer, which is a potentially long lead time item, are now in the Company’s possession. Newlox Gold’s electrical contractors are now working on the installation of the equipment according to the electrical plan, which has been approved by local regulators. The Company will be providing updates to the market as this procedure advances,” commented Ryan Jackson, CEO of Newlox Gold Ventures Corporation.

 

Forward-Looking Information

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).

 

Technical Disclaimer

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. Grab sample results included in any press release are not necessarily indicative of the mineralization in general for the deposit. James Turner, 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.

Contact Newlox Gold

Ryan Jackson
Newlox Gold Ventures Corp., President Website:
Email: info@newloxgold.com
Phone: + 1 604 256 0493
www.newloxgold.com

Newlox Gold Extends Warrants

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Newlox Gold Extends Warrants

Vancouver, BC, 18 December 2023 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF), is pleased to announce the Company is offering, subject to regulatory approvals, a 1-year term extension to 14,069,613 warrants with an original expiry date of December 18, 2023 and 6,954,266 warrants with an original expiry date of December 31, 2023. All extended warrants have an exercise price of $0.25 per common share.

The Board at Newlox Gold has approved these extensions in appreciation of the Company’s shareholders, who have provided the Company with strong support as it deploys its environmentally and socially responsible precious metals recovery model in Latin America.

 

Forward-Looking Information

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).

 

Technical Disclaimer

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. Grab sample results included in any press release are not necessarily indicative of the mineralization in general for the deposit. James Turner, 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.

Contact Newlox Gold

Ryan Jackson
Newlox Gold Ventures Corp., President Website:
Email: info@newloxgold.com
Phone: + 1 604 256 0493
www.newloxgold.com

Newlox Gold Granted Approval for the Installation of its Electrical Substation at Plant 2

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Newlox Gold Granted Approval for the Installation of its Electrical Substation at Plant 2

Vancouver, BC, 30 November 2023 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF), is pleased to announce a significant milestone in its operations with the resolution of the electrical supply issue for Plant #2 (the Boston Project). The Boston Project will benefit from connection to the Costa Rican grid, which is a stable and 98% renewable electricity system.

After months of dialogue, Newlox has reached a comprehensive agreement with ICE, the Costa Rican Electrical Institute, to construct and install essential infrastructure, which will ensure a reliable and robust electrical supply to the project. The collaboration involved extensive and meticulous planning, which has resulted in ICE granting final approval.

After 5 months and considerable negotiations, ICE has approved the final deployment of appropriate equipment to sustain the current and future operations. Under the agreement with ICE, Newlox has acquired the necessary equipment at its own expense. Furthermore, ICE executed a series of upgrades to the power lines, contributing to the overall improvement of our facilities. While these enhancements temporarily impacted our operations, they are pivotal to ensuring our long-term success.

Newlox Gold has already secured a team of skilled professionals to execute the agreed-upon work and has initiated the procurement process for the required components, including the essential electrical transformer. This strategic move aligns with our commitment to operational excellence and positions the company for sustained power supply.

The Boston Project is slated to become the Company’s second environmentally and socially responsible precious metals project in Costa Rica. The Project will process feedstock newly extracted from the Boston Mine by the Company’s local mining partners. At full scale, Newlox will operate the new Boston mill to process 150 tonnes per day of material grading +- 15 grams per tonne gold with an anticipated gold recovery of 90%. All feedstock is to be provided by the Company’s mining partners, with profits to be split evenly between the parties.

“We are pleased to have successfully navigated through the complexities of securing a stable electrical supply for Plant #2. This achievement underscores our dedication to overcoming challenges and reinforces our commitment to responsible and sustainable growth,” said Jeffrey Benavides, CFO of Newlox Gold Ventures Corporation.

 

Forward-Looking Information

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).

 

Technical Disclaimer

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. Grab sample results included in any press release are not necessarily indicative of the mineralization in general for the deposit. James Turner, 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.

Contact Newlox Gold

Ryan Jackson
Newlox Gold Ventures Corp., President Website:
Email: info@newloxgold.com
Phone: + 1 604 256 0493
www.newloxgold.com

Newlox Gold Announces the Antioquia Community Coexistence Gold Project in Colombia

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Newlox Gold Announces the Antioquia Community Coexistence Gold Project in Colombia

Vancouver, BC, 20 November 2023 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF), is pleased to announce it has signed an agreement to acquire 100% of the Antioquia Community Coexistence Project (the “Coexistence Project”) in San Roque, Department of Antioquia, Colombia for a total of US$1.5 million to be paid in upcoming installments. The Coexistence Project will follow the coexistence model for relations with artisanal mining, which was spearheaded by Dr. Marcello Veiga and embraced by the Colombian Government and local stakeholders. The Project will provide local small miners access to modern mineral processing options through a partnership with Newlox Gold.

As part of the agreement, Newlox Gold’s Coexistence Project will be the exclusive processing facility for all feedstock mined from the Gramalote artisanal mines over an initial term of 21 years, with an automatic renewal of the agreement occurring when the underlying mineral concessions are renewed. The Company intends to initially construct a 500 to 1,000-tonne-per-day processing plant to service the needs of local miners and anticipates that future demand may grow well beyond this level.

This groundbreaking initiative involves establishing and operating a processing plant dedicated to refining ore from initially up to 80 mining concessions within the immediate area, which are being granted by the Gramalote project, a gold development endeavour approximately 120 km northeast of Medellin, Antioquia. To date, the Government of Antioquia has announced the formalization of 60 artisanal mining areas into legal mining concessions, which will exclusively supply feedstock to the Coexistence Project’s processing plant. Newlox’s processing plant will provide modern and environmentally friendly processing facilities to the local miners, which are expected to significantly improve the economic, social, and environmental outcomes of artisanal mining.

Newlox has secured the exclusive rights to process all gold-bearing ore produced by the artisanal mining concessionaires granted in the area. In return, the company has pledged a comprehensive social responsibility program, reinvesting 20% of the net, after-tax profit from the plant into a Colombia-focused community development fund. Management at Newlox Gold believes that reinvestment in Colombian mining communities through the development fund will assist in realizing social, environmental, and economic diversification goals while fostering a strong relationship between the Company and local stakeholders.

Newlox Gold will pay US$1,500,000 in upcoming scheduled increments to acquire 100% of the Coexistence Project, including the rights and permits necessary for the processing plant’s operation. Once the processing plant is in operation, Newlox Gold will extend a credit facility of up to $500,000 to the local mining cooperatives to assist with the further development of their mines and help to scale their operations safely and sustainably. The Company also plans to establish an analytical laboratory to assist local mining groups with grade control and operational management.

“In discussions with the community regarding the Coexistence Project, miners have enthusiastically shared their satisfaction with the project’s positive impact on social, environmental, and overall quality of life in the province. With the conclusion of this process that began in 2004, the community is looking forward to the sustained benefits and improvements brought about by the project,” commented Freddy Osvaldo Rodriguez, who served as the mayor of the town from 2016 to 2019. Mr Rodriguez was pivotal in spearheading the formalization process in collaboration with the Gramalote Project, the Antioquia Government, and the Colombian Mines Department.

“We are excited about the Coexistence Project, as it aligns with our strategic goals and reflects our commitment to sustainable and socially responsible business practices. This project is a testament to the positive impact that collaboration and responsible mining can have on communities; our company is working to replicate this model in key sectors of Colombia,” said Jeffrey Benavides, CFO of Newlox Gold Ventures Corporation.

Newlox looks forward to a successful and impactful collaboration, bringing positive change to the community, fostering sustainable development, and setting new benchmarks in responsible business practices.

Forward-Looking Information

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).

 

Technical Disclaimer

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. Grab sample results included in any press release are not necessarily indicative of the mineralization in general for the deposit. James Turner, 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.

Contact Newlox Gold

Ryan Jackson
Newlox Gold Ventures Corp., President Website:
Email: info@newloxgold.com
Phone: + 1 604 256 0493
www.newloxgold.com

Newlox Gold Highlights Innovative Non-Toxic Gold Technology

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Newlox Gold Highlights Innovative Non-Toxic Gold Technology

Vancouver, BC, 13 November 2023 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF), is pleased to highlight a recent academic paper written by Pariya Torkaman from the Norman B. Keevil Institute of Mining Engineering, University of British Columbia; Akihiro Yoshimura from the Graduate School of Science and Engineering, Chiba University; Leslie M. Lavkulich from the  Department of Land and Food Systems, University of British Columbia, and Dr. Marcello M. Veiga on the topic of innovative gold-leaching process using a non-toxic organic reagents.

This recent study tested dimethyl sulfoxide, a water-free lixiviant that extracts gold from ores/concentrates in combination with copper halides, on a sample of high-grade gold ore from Colombia with impressive results. The team found that 96.5% of the gold was extracted from the samples in 2 hours at room temperature, a finding that exceeds the control test of a typical cyanidation test, which achieved 97% gold extraction in 24 hours at ambient temperature. Gold dissolved by the new technology was successfully precipitated and recovered, while the reagent could be recycled through a distillation process.

The full paper can be accessed at this link: https://www.mdpi.com/2075-4701/13/11/1855

This recent testing by Pariya Torkaman and her colleagues echoes the encouraging results previously obtained by Newlox Gold using a similar process. The Newlox R&D team has previously achieved excellent gold recoveries of nearly 100% recovery at 80 degrees Celsius and over 90% recovery at ambient temperature during lab testing. Newlox Gold plans to continue to develop this innovative technology. The Company has secured a supply of the necessary reagents and plans to begin in-field testing a similar process which could replace cyanide and mercury in the mining industry.

 

Forward-Looking Information

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).

 

Technical Disclaimer

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. Grab sample results included in any press release are not necessarily indicative of the mineralization in general for the deposit. James Turner, 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.

Contact Newlox Gold

Ryan Jackson
Newlox Gold Ventures Corp., President Website:
Email: info@newloxgold.com
Phone: + 1 604 256 0493
www.newloxgold.com

Newlox Gold Offers Debenture Extension

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Newlox Gold Offers Debenture Extension

Vancouver, BC, 7 November 2023 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF), is pleased to announce the Company is offering investors who participated in the Company’s Convertible Debentures dated December 18th, 2020, and December 31st, 2020, subject to regulatory approvals, a 1-year extension in appreciation of their support and investment. Debenture Extension Consent Forms will be prepared and made available to debenture holders.

The Board at Newlox Gold have approved these extensions in appreciation of the Company’s shareholders, who have provided the Company with strong support as it deploys its environmentally and socially responsible precious metals recovery model in Latin America.

 

Forward-Looking Information

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).

 

Technical Disclaimer

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. Grab sample results included in any press release are not necessarily indicative of the mineralization in general for the deposit. James Turner, 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.

Contact Newlox Gold

Ryan Jackson
Newlox Gold Ventures Corp., President Website:
Email: info@newloxgold.com
Phone: + 1 604 256 0493
www.newloxgold.com

Newlox Gold Reports Revenue Growth and a Significant Increase in Assets

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Newlox Gold Reports Revenue Growth and a Significant Increase in Assets

Vancouver, British Columbia, 3 October 2023 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF), is pleased to announce its Full-Year Audited Financial Statements, filed on 29 September 2023 and available now on www.sedarplus.ca, report growing revenue over the past fiscal year and a significant increase in the Company’s assets.

In the 12 months leading up to 31 March 2023, Newlox Gold’s fiscal year-end, the Company reports revenue of $3,472,106 compared to $2,081,516 during the previous fiscal year. As a result of increased revenue, the Company reported a comprehensive loss of $738,417 during its fiscal year compared to a comprehensive loss of $2,243,274 during the previous fiscal year. The revenue growth results from increased gold sales from its socially and environmentally positive precious metals project in Costa Rica.

During the fiscal year, Newlox Gold extended its record of unbroken quarterly increases in gold sales logged during the previous fiscal year by delivering a consistent improvement in metal sold in each quarter of fiscal 2023. During the twelve months ended 31 March 2023, the Company sold a total of 46,562.13 grams of gold (1,497 troy ounces), representing substantial growth over the year.

The Company also reported an increase in property plant and equipment over the year as it has made significant investments in its Costa Rican operations, including the construction of its second processing facility. Property plant and equipment value increased from $2,717,037 in fiscal 2022 to $6,286,134 in fiscal 2023.

The revenue growth achieved by Newlox Gold showcases a consistent and robust upward trajectory over a two-year period. The Company’s improving performance confirms a positive trend, commitment to continuous improvement, and adaptability to market environments. The Company is targeting a significant increase in the pace of revenue growth in fiscal 2024 as performance at Plant 1 continues to improve and the new Boston Project (Plant 2) comes online. Management also intends to continue to invest capital in property plant and equipment to support Newlox Gold’s growth plan, including the anticipated expansion to Newlox Gold’s third processing plant in a prolific gold mining region in Colombia.

 

Forward-Looking Information

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).

 

Technical Disclaimer

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. Grab sample results included in any press release are not necessarily indicative of the mineralization in general for the deposit. James Turner, 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.

Contact Newlox Gold

Ryan Jackson
Newlox Gold Ventures Corp., President Website:
Email: info@newloxgold.com
Phone: + 1 604 256 0493
www.newloxgold.com

Newlox Gold Files Full-Year Financial Statements

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Newlox Gold Files Full-Year Financial Statements

Vancouver, British Columbia, 29 September 2023 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF), has filed its Full-Year Audited Financial Statements and Management Discussion & Analysis, which are available to the public on www.sedarplus.ca. Included in the Financial Statements is the Independent Auditor’s Report, which provided a positive report stating that “the accompanying financial statements present fairly, in all material respects, the financial position of the Company as at March 31, 2023, 2022 and April 1, 2021, and its financial performance and its cash flows for the years ended March 31, 2023 and 2022 in accordance with International Financial Reporting Standards.”

 

Forward-Looking Information

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).

 

Technical Disclaimer

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. Grab sample results included in any press release are not necessarily indicative of the mineralization in general for the deposit. James Turner, 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.

Contact Newlox Gold

Ryan Jackson
Newlox Gold Ventures Corp., President Website:
Email: info@newloxgold.com
Phone: + 1 604 256 0493
www.newloxgold.com

Newlox Announces Update on Status of MCTO

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NEWLOX ANNOUNCES UPDATE ON STATUS OF MCTO

Vancouver, British Columbia, 25 September 2023 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF), is providing an update on the status of a management cease trade order (the “MCTO”) that was granted by the British Columbia Securities Commission on 1 August 2023. The Company is providing this bi-weekly status update in accordance with National Policy 12-203 Management Cease Trade Orders (“NP 12-203”).

The Company’s audited annual financial statements for the year ended March 31, 2023, including the related management discussion and analysis, and Chief Executive Officer and Chief Financial certifications (collectively, the “Annual Financial Filings”) were not filed before the Filing Deadline of July 31, 2023 (the “Filing Deadline”). Pursuant to National Policy 12-203 Management Cease Trade Orders (“NP 12-203”) the Company has voluntarily applied to the applicable securities regulatory authorities and received a management cease trade order related to the Company’s securities to be imposed against the Chief Executive Officer and Chief Financial Officer of the Company to trade securities of the Company (the “MCTO”). The MCTO will be in effect until the Annual Financial Filings are filed. All other securityholders will still be able to trade in the securities of the Company in accordance with applicable securities laws.

The Company confirms that, except as provided herein, there are no changes from its news release dated 1 August 2023. The Company reports that the audit is progressing and the Company expects to file the Annual Financial Filings by 29 September 2023.

Until the Annual Financial Filings are filed and the MCTO has been revoked, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing default status reports in the form of further press releases every two weeks. The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed.

On Behalf of the Board, Newlox Gold Ventures Corp.

Contact Newlox Gold

Ryan Jackson
Newlox Gold Ventures Corp., President Website:
Email: info@newloxgold.com
Phone: + 1 604 256 0493
www.newloxgold.com