Iron ore price rebounds as China stimulus hopes outweigh weak fundamentals
A raft of industrial data that remained relatively weak kept alive calls for Beijing to ramp up consumer-focused stimulus.
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Vancouver, BC, - TheNewswire - 28 September 2022 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE:LUX) | (Frankfurt/Stuttgart:NGO) | (OTC:NWLXF) is pleased to announce that the Company has issued 10,050,000 stock options to members of the Newlox Gold leadership team and other consultants. 6,500,000 of the new options have been issued primarily to members of Newlox Gold’s Board of Directors, Executives, and senior employees with an exercise price of $0.20 per share. 3,550,000 have been issued to arm’s length consultants with an exercise price of $0.13 per share. The newly issued options would generate $1,761,500 of new capital for the Company if fully exercised.
Newlox Gold’s management team continues to be optimistic, dedicated to the success of the Company, and believes Newlox Gold is significantly undervalued in the current market. Given their high confidence in the Company’s outlook, the Board of Directors, Executives, and senior employees have agreed to receive options with an exercise price at a premium to the market price.
Over the past year, Newlox Gold has consistently increased productivity, quarter-over-quarter, resulting in a 757.5% increase in revenue from $242,730 in fiscal 2021 to $2,081,516 in fiscal 2022. Going forward, management believes that Newlox Gold will accelerate productivity at its operational tailings reprocessing facility, Plant 1, make excellent progress at the advanced construction stage Boston Expansion Project, and proceed with its exciting expansion into the Colombian market. For more information on Newlox Gold’s recent performance and current trajectory, please review the Company’s Annual Newsletter, which is available at this link:
https://mailchi.mp/daabd1d17221/annual-newsletter
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. 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.
Contact Newlox Gold
Ryan Jackson
Newlox Gold Ventures Corp., President
Website: www.newloxgold.com
Email: [email protected]
Phone: + 1 604 256 0493
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