Business
Newlox Gold Announces Management Transition and Debt Settlement Agreement
Vancouver, BC – TheNewswire - June 18, 2025 - Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF) is plea
About this update from Newlox Gold Ventures Corp.
[{"type":"text","content":"Vancouver, BC – TheNewswire - June 18, 2025 - Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF) is pleased to announce a significant transition in leadership alongside a strategic balance sheet initiative aimed at enhancing long-term shareholder value. Leadership Transition Effective June 18, 2025, Ryan Jackson (CEO and Director), David Carkeek (Director), and Donald Gordon (Director) will retire from their roles after years of service. These individuals have played a foundational role in guiding Newlox from its inception, and the Company extends sincere gratitude for their leadership and commitment over the years. To build on this strong foundation and accelerate the Company’s growth trajectory, the following appointments have been made: Gary MacDonald rejoins the Board of Directors and returns as CEO. With deep operational knowledge and strategic insight from his prior involvement with Newlox, Gary is well-positioned to lead the Company into its next phase of growth. Alex Mackay joins the Board of Directors. With extensive experience in capital markets and mining, Alex adds a valuable market and operational perspective. They will work alongside existing directors Roger Dent, and Jeffrey Benavides CFO, to drive the Company’s renewed focus on operational performance and capital markets engagement. Importantly, the outgoing team has been working closely with incoming leadership to ensure a smooth and effective transition. Their endorsement reinforces a shared belief in Newlox’s direction and potential to create lasting value for shareholders. As part of this leadership change, the Company has executed a debt-for-equity settlement, with outgoing management and board to align their interests with shareholders. C$1,099,119.64 in accrued fees and short-term, non-interest-bearing loans provided by retiring management and consultants have been settled through the issuance of 7,625,000 common shares. The shares were issued at a premium to market, underscoring the outgoing team’s confidence in Newlox’s future. This transaction improves financial metrics, laying the groundwork for enhanced shareholder returns. Strategic Focus Moving Forward With renewed leadership, the Company is now sharply focused on initiatives that directly support shareholder value...