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Newlox Gold Ventures Reports 145% Quarterly Revenue Growth in Q3 Financials
Vancouver, BC - TheNewswire - 4 March 2022 - Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE:LUX) (CNSX:LUX.CN) (Frankfurt/Stuttgart:NGO) (OTC:NWLXF
About this update from Newlox Gold Ventures Corp.
[{"type":"text","content":"Vancouver, BC - TheNewswire - 4 March 2022 - Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE:LUX) (CNSX:LUX.CN) (Frankfurt/Stuttgart:NGO) (OTC:NWLXF) is pleased to announce 145% quarter-over-quarter revenue growth from $319,780 in the second quarter to $784,419 in the third quarter. The Newlox operations team has continued to execute the ramp-up of operations at the Company’s first EGS-focused artisanal tailings remediation and precious metals recovery plant in Costa Rica. As a result of the increased revenue realized during the quarter, the Company reported a small comprehensive loss for the period of $49,530, compared to $489,685 during the previous quarter. Newlox Gold closed the third quarter with a strong cash position, which will continue to support the Company’s growth strategy. Newlox Gold’s full unaudited quarterly financial statements and management discussion and analysis are available to the public on SEDAR (www.sedar.com). A Message from Ryan Jackson, President & CEO: “We would like to take this opportunity to commend the Newlox operations team on the progress they have made during the quarter. Despite confronting logistical challenges, the Company’s operations at Plant 1 have been increasing in output resulting in the enhanced revenue seen in the third quarter. Newlox Gold plans to continue to deliver growth as it completes the ramp-up of Plant 1 and moves forward at the upcoming Boston Project.” Forward-Looking Information The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking information. Forward-looking information includes, but is not limited to, the completion of the work programs currently underway and the results of these programs. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, achievements, or performance may vary materially from those anticipated and indicated by these forward-looking statements. The material risk factors that could cause actual results to differ include the risk that work undertaken by the Company may have unintended effects, the risk of delays in completing work, and the risk that the Co...