Business
New Break Closes Oversubscribed $1,009,800 Non-Brokered Flow-Through Financing
Toronto, Ontario--(Newsfile Corp. - December 31, 2025) - New Break Resources Ltd. (CSE: NBRK) ("New Break" or the "Company") is pleased to announce that...
About this update from New Break Resources Ltd.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - December 31, 2025) - New Break Resources Ltd. (CSE: NBRK) ("New Break" or the "Company") is pleased to announce that, further to its news release dated December 29, 2025, it has closed a non-brokered private placement flow-through financing (the "Offering") through the issuance of 2,805,000 common shares that qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the "FT Shares") at a price of $0.36 per FT Share for gross proceeds of $1,009,800.","length":602,"tagName":"p"},{"type":"text","content":"The gross proceeds from the sale of the FT Shares will be used for Canadian Exploration Expenses ("CEE") and will qualify as "flow-through mining expenditures" as defined in the Income Tax Act (Canada). The Company will renounce such CEE to the purchasers of the FT Shares with an effective date of no later than December 31, 2025. New Break paid $36,720 in finder's fees in connection with the closing of the Offering.","length":443,"tagName":"p"},{"type":"text","content":"These proceeds will be used in connection with the first phase of a planned 10,000+ metre drilling program, expected to begin in January 2026 at the Company's Moray gold project, located approximately 49 km south of Timmins, Ontario and 32 km northwest of the Young-Davidson gold mine, operated by Alamos Gold Inc. Drilling will focus on expanding the known mineralization in the Zavitz gold zone, where mineralization is open in multiple directions, with priority on exploring the lateral continuation of the zone to both the northwest and southeast. In addition, New Break plans to test other target areas on the property that exhibit similar geological characteristics as the Zavitz discovery zone.","length":705,"tagName":"p"},{"type":"text","content":"All securities issued and issuable pursuant to this private placement are subject to a statutory hold period of four months and one day expiring on May 1, 2026, in accordance with applicable Canadian Securities Laws. The completion of the Financing is subject to certain conditions including, but not limited to, the receipt of all required regulatory approvals including final approval of the Canadian Securities Exchange (the "CSE").","leng...