(via TheNewswire)
The debentures’ 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
As part of the fourth tranche closing, the Company issued 476,660 Warrants. Each Warrant entitles the holder to purchase one common share of the Company at an exercise price of
Finder fees of
All securities are issued pursuant to the Offering will be subject to a 4-month hold period under applicable securities laws in
The Company anticipates a final tranche close of the Offering within the next 14 days.
Newlox will use proceeds from the Offering to support operations, expansion and grow productivity.
About
Newlox has identified a niche within the extractive industry where a clean-technology company can apply innovative processing techniques to not only recover precious metals but also affect positive change in the environmental and social landscape in its targeted jurisdictions of operations.
Contact Newlox
Website: www.newloxgold.com
Email: ryan@newloxgold.com
Phone: +1 778 738 0546
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release).
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Copyright (c) 2024 TheNewswire - All rights reserved., source