Newlox Gold Update on Full-Year Financial Statements
Vancouver, BC, 15 August 2022 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF) would like to provide an update on its full year financial statements, which were not filed on the required day, resulting in a cease trade order issued by the British Columbia Securities Commission. Guidance from the Company’s independent auditing firm indicates that they should complete the audit imminently, and management expects the financial statements to be filed this week. The Company has not received any points of material concern from the auditors, and management is taking all measures to assist in the timeliest possible completion of this work.
Although the delayed financial statements are frustrating, Newlox Gold’s management team is highly encouraged concerning the Company’s outlook and progress being made in operations. The Company is poised to perform admirably over the coming months as it continues to increase gold sales and expand at new projects. Management believes that Newlox Gold is well positioned with a strong treasury, increasing productivity, rising revenues, and significant blue-sky opportunities at its expansion projects in Costa Rica and Colombia.
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. Grab sample results included in any press release are not necessarily indicative of the mineralization in general for the deposit. 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 Contact