Newlox Gold Remains Focused on Central America
Vancouver, BC, October 13, 2016 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX) announces that the Company has opted to forgo the acquisition of Cordillera Gold Ltd.’s (“Cordillera”) mineral resource properties in Colombia. The Company will instead continue to focus on completing the commercialization phase at its first tailings remediation and gold recovery project and pursue additional opportunities in Central America.
Newlox announced the signing of a Letter of Intent (“LOI”) on the 12th of April, 2016 with respect to the proposed acquisition of 100% of Cordillera Gold’s mineral resource properties in Colombia in an all-paper transaction. In the course of due diligence, it has been determined that it is not in the best interest of the Company and its shareholders to advance to a definitive agreement. The LOI announced on the 12th of April, 2016 can now be considered terminated.
Newlox wishes Cordillera Gold and its shareholders the best as they continue to advance their business in Colombia.
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).
Scott Jobin-Bevans, Ph.D., P.Geo., is a “Qualified Person” within the meaning of National Instrument 43-101 and reviews the Company’s technical disclosure.
On Behalf of the Board, Newlox Gold Ventures Corp.
For a PDF file of this news release, click here.