Business
New World Gold Corporation to Issue Royalty to Shareholders
New World Gold Corporation to Issue Royalty to Shareholders.
About this update from New World Gold Corporation
[{"type":"text","content":"\n \n New World Gold Corporation (OTC Pink: NWGC) a gold mining and milling \n company with existing operations in Ecuador and Peru is pleased to \n announce that it will pay a royalty at six (6) month intervals to all \n shareholders of record, holding title to not less than 1,000,000 shares \n of common stock, either restricted or unrestricted shares, on October \n 30, 2015 and who are also holding the same minimum quantity of shares on \n April 29, 2016, (the “qualifying shareholders”), which shall be the \n first payment date of the royalty (see below). The royalty to be paid \n will be up to 25% per year or a maximum of $2,000,000 U.S. of the \n revenue from annualized production solely from the Company's new BR Mine \n which goes into production on November 1, 2015. Gold production from the \n BR Mine is projected to be 6gms (20 ozs) of gold per ton. It is \n anticipated that the BR Mine will process 100 tons per day. The Company \n cannot guarantee the amount of the royalty, in whole or in part, due to \n multiple variables including but not limited to those pertaining to \n production and the speed of the ramp up of production and cost structure.\n \n \n Assuming the maximum $2,000,000 royalty per year to be paid against a \n maximum of all the authorized shares of common stock of the \n Company,3,000,000.000 shares, the royalty would equate to $.0007 per \n share per year.\n \n \n Once production begins, royalties will be accrued by the Company per \n calendar month, and paid at six month calendar intervals from October \n 30,2015 for as long as the BR Mine is in production, but for a period \n not to exceed 24 months, or until the later of October 30, 2017, after \n which they will terminate.\n \n \n Each royalty payment shall be made within the first 75 calendar days \n following the end of its respective six month accrual period.\n \n \n Shareholders of record as of the market close on Friday, October 30, \n 2015, holding title to not less than 1,000,000 shares of common stock of \n the Company at that time and who are also holding title to not less than \n 1,000,000 shares of common stock as of the market close on Friday, April \n 29, 2016 will qualify to receive the royalty.\n \n \n Royalty payments may be directed by qualifying shareholders to be paid \n to her/him directly or her/his successors or ass...