(TheNewswire)
Vancouver, BC, - TheNewswire - 28 September 2022 – Newlox Gold VenturesCorp. (“Newlox” or the “Company”)(CSE: LUX ) | ( Frankfurt/Stuttgart: NGO ) | (OTC : NWLXF ) ispleased to announce that the Company has issued 10,050,000 stockoptions to members of the Newlox Gold leadership team and otherconsultants. 6,500,000 of the new options have been issued primarilyto members of Newlox Gold’s Board of Directors, Executives, andsenior employees with an exercise price of $0.20 per share. 3,550,000have been issued to arm’s length consultants with an exercise priceof $0.13 per share. The newly issued options would generate $1,761,500of new capital for the Company if fully exercised.
Newlox Gold’s management team continues to beoptimistic, dedicated to the success of the Company, and believesNewlox Gold is significantly undervalued in the current market. Giventheir high confidence in the Company’s outlook, the Board ofDirectors, Executives, and senior employees have agreed to receiveoptions with an exercise price at a premium to the marketprice.
Over the past year, Newlox Gold has consistentlyincreased productivity, quarter-over-quarter, resulting in a 757.5%increase in revenue from $242,730 in fiscal 2021 to $2,081,516 infiscal 2022. Going forward, management believes that Newlox Gold willaccelerate productivity at its operational tailings reprocessingfacility, Plant 1, make excellent progress at the advancedconstruction stage Boston Expansion Project, and proceed with itsexciting expansion into the Colombian market. For more information onNewlox Gold’s recent performance and current trajectory, pleasereview the Company’s Annual Newsletter , which is available at this link:
https://mailchi.mp/daabd1d17221/annual-newsletter
Forward-LookingInformation
The information in this news releaseincludes certain information and statements about management’s viewof future events, expectations, plans and prospects that constituteforward-looking information. Forward-looking information includes, butis not limited to, the completion of the work programs currentlyunderway and the results of these programs. These statements are basedupon assumptions that are subject to significant risks anduncertainties. Because of these risks and uncertainties and as aresult of a variety of factors, the actual results, achievements, orperformance may vary materially from those anticipated and indicatedby these forward-looking statements. The material risk factors thatcould cause actual results to differ include the risk that workundertaken by the Company may have unintended effects, the risk ofdelays in completing work, and the risk that the Company may not beable to raise sufficient funds and Force Majeure. Although the Companybelieves that the expectations reflected in the forward-lookinginformation are reasonable, it can give no assurances that theexpectations of any forward-looking information will prove to becorrect. Except as required by law, the Company disclaims anyintention and assumes no obligation to update or revise anyforward-looking information to reflect actual results, whether as aresult of new information, future events, changes in assumptions,changes in factors affecting such forward-looking statements orotherwise. Neither Canadian Securities Exchange nor its RegulationServices Provider (as that term is defined in the policies of the Canadian Securities Exchange)accept responsibility for the adequacy or accuracy of thisrelease).
TechnicalDisclaimer
The Company advises it is not basingany decision to produce on a feasibility study of reservesdemonstrating the economic and technical viability of the project andalso advises there is increased uncertainty and specific economic andtechnical risks of failure associated with any production decision.Grab sample results included in any press release are not necessarilyindicative of the mineralization in general for the deposit. StewartA. Jackson, Ph.D., P.Geo., a “Qualified Person” within the meaningof National Instrument 43-101, has prepared, supervised thepreparation of, and approved the contents of this News Release.
On Behalf of the Board, Newlox Gold VenturesCorp.
Contact Newlox Gold
Ryan Jackson
Newlox Gold Ventures Corp., President
Website: www.newloxgold.com
Email: info@newloxgold.com
Phone: + 1 604 256 0493
Copyright (c) 2022 TheNewswire - All rights reserved.