(TheNewswire)
Vancouver, BC - TheNewswire - November 30, 2023 - Newlox Gold Ventures Corp. (“Newlox” or the “Company”)(CSE:LUX ) ( Frankfurt:NGO) announces that it is offeringan unsecured non-brokered Convertible Debenture Financing (the“Offering”) and has closed a strong lead order for gross proceedsof $785,000 . The Offering remains open toaccredited investors for participation.
The principal amount of the debentures will become duetwo years from the closing date and will carry an interest rate of 10%per annum, with interest payable semi-annually. Principal and anyaccrued interest are convertible at the option of the investor at aconversion price of $0.15 per common share (the “ConversionPrice”) from the closing date until the day before maturity. Onmaturity, the Company will have the option to pay the principal andany accrued interest in cash or shares at the Conversion Price.
As part of the Offering, the Company issued 5,233,333Warrants. Each Warrant entitles the holder to purchase one commonshare of the Company at an exercise price of $0.25 for two years fromthe closing of the Offering.
A finder’s fee of $33,120.00, and 220,800 Warrantswere issued at an exercise price of $0.25 per common share for aperiod of two years from the closing date of the Offering.
All securities are issued pursuant to the Offering willbe subject to a 4-month hold period under applicable securities lawsin Canada. Newlox will use proceeds from the Private Placement tosecure the Company’s new project inColombia , support Costa Ricaoperations, and grow productivity.
About Newlox Gold VenturesCorp.
Newlox has identified a niche within the extractiveindustry where a clean-technology company can apply innovativeprocessing techniques to not only recover precious metals but alsoaffect positive change in the environmental and social landscape inits targeted jurisdictions of operations.
Contact Newlox
Ryan Jackson
Newlox Gold Ventures Corp., President
Website: www.newloxgold.com
Email: ryan@newloxgold.com
Phone: +1 778 738 0546
Neither Canadian Securities Exchangenor its Regulation Services Provider (as that term is defined in thepolicies of the Canadian Securities Exchange) accept responsibilityfor the adequacy or accuracy of this release).
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