Newlox Gold – Private Placement
Vancouver, BC, June 16, 2017 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt: NGO) announces private placements totaling C$72,305.00 for issuance of 1,446,100 common shares and 1,446,100 share purchase warrants. Each Warrant is non-transferrable and entitles the holder to purchase an additional Newlox common share for C$0.15. All unexercised warrants shall expire after a term of 3 years.
The proceeds of this Private Placement are allocated to general administrative working capital and preparations for commencement of tailings remediation operations in Latin America. The Company has built and tested its first remediation plant and is now advancing its discussions with potential financial partners to ensure adequate capital will be available to ensure uninterrupted steady sate operations. More news in this regard is expected shortly.
In connection with the closing of the Private Placement, the Company will pay a finders’ fee totalling $5,385.00.
About Newlox Gold Ventures Corp.
Newlox Gold Ventures Corp. is an environmental remediation company focused on designing and deploying small scale tailings processing plants for removal of contaminants and recovery of residual precious metals from historical waste left behind over more than a century of inefficient artisanal and small-scale mining in Latin America.
Newlox collaborates with the Norman B. Keevil Institute of Mining Engineering at the University of British Columbia to develop systems which are ideally suited to process artisanal tailings material while requiring minimal capital investment and delivering an expedited path to commercial operation.
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release).
Stewart A. Jackson, Ph.D., P.Geo., is a “Qualified Person” within the meaning of National Instrument 43-101 and has reviewed the contents of this News Release.
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. Stewart A. Jackson, Ph.D., P.Geo., a “Qualified Person” within themeaning 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.
For a PDF file of this news release, click here.