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Newlox Gold Closes $4 Million Debenture Offering
Vancouver, BC - TheNewswire - December 31, 2020 - Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE:LUX) (CNSX:LUX.CN) (Frankfurt: NGO) is pleased to
About this update from Newlox Gold Ventures Corp.
[{"type":"text","content":"Vancouver, BC - TheNewswire - December 31, 2020 - Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE:LUX) (CNSX:LUX.CN) (Frankfurt: NGO) is pleased to announce that it has closed a second and final round of its unsecured non-brokered Convertible Debenture Financing (the “Offering”) for gross proceeds of $1,221,500.00 in addition to $2,779,000.00 announced December 18, 2020 for total combined proceeds of $4,000,500. The debenture’s principal amount will become due in two years from the closing date and will carry an interest rate of 10% per annum, with interest payable semi-annually. Principle and any accrued interest are convertible at the option of the investor at a conversion price of $0.15 per common share (the “Conversion Price”) from the closing date until the day before maturity. On maturity, the Company will have the option to pay the principal and any accrued interest in cash or shares at the Conversion Price. As part of the second closing, the Company has issued 8,143,334 Warrants. Each Warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.25 for two years from the closing of the Offering. Fully exercised, this would result in proceeds to the Company of up to $2,035,833.50. All securities issued pursuant to the Offering are subject to a four-month-and-one-day hold period under applicable Canadian securities laws. The Company may pay finder’s fees of up to 8% and issue Finder’s Warrants of up to 8% as part of the Offering. A Message from Ryan Jackson, President & CEO: “Closing this Offering in two stages is a significant event for Newlox Gold, placing the Company on a firm financial footing for the New Year. We are gratified that the Offering was significantly oversubscribed. The Newlox Gold team anticipates 2021 to be a milestone year for the Company, with its first processing plant slated for full-scale operation, and a second processing plant expected to become operational. We believe that Newlox Gold will be defined in the coming year as a rapidly growing gold company.” Click Here to Join the Newlox Gold Mailing List Click Here to Watch a Recent CEO Interview on Newlox Gold Forward-Looking Information The information in this news release may include certain information and statements about mana...