New Break arranges $505,800 private placement

Executive Summary

• New Break Resources Ltd. announced a non-brokered private placement offering of up to 1,405,000 flow-through common shares at 36 cents per share, targeting gross proceeds of up to $505,800.
• The proceeds are designated for Canadian exploration expenses (CEE) and will be renounced to purchasers, with an effective date no later than December 31, 2025.
• Funds will finance the first phase of a planned 10,000-plus-metre drilling program at the Moray gold project in 2026.

Key Details

• Offering Size: Up to 1,405,000 flow-through common shares (FT shares).
• Price: 36 cents per FT share.
• Gross Proceeds: Up to $505,800.
• Structure: Non-brokered private placement.
• Tax Treatment: Shares qualify as flow-through shares under Subsection 66(15) of the Income Tax Act (Canada); gross proceeds used for CEE and renounced to purchasers.
• Use of Proceeds: First phase of a planned 10,000-plus-metre 2026 drilling program at the Moray gold project.
• Project Location: Moray gold project, located ~49 km south of Timmins, Ont., and 32 km northwest of the Young-Davidson gold mine (operated by Alamos Gold Inc.).
• Finder’s Fees: Up to 6% of gross proceeds may be payable to qualified individuals introducing purchasers.
• Hold Period: Statutory hold period of four months and one day applies to all securities issued.
• Closing Date: Expected December 30, 2025.
• Conditions: Subject to necessary approvals, including the Canadian Securities Exchange.

Notable Quotes

• No direct quotes from management were included in the provided text.