Newlox Gold Announces Amendment of Convertible Debentures and Warrants

Executive Summary of Recent Release

• Date: April 15, 2026
• Event: Amendment of Convertible Debentures and Warrants.
• Instrument: $71,500 aggregate convertible debentures issued April 30, 2024, plus 476,660 associated warrants.
• Terms Change: Maturity extended by two years (to April 30, 2028), interest rate halved (10% to 5%), conversion price reduced ($0.15 to $0.11). Warrant expiry extended and exercise price lowered ($0.25 to $0.15).
• Context: This follows a pattern of similar amendments announced in January and February 2026 regarding larger debenture tranches ($403,500 and $564,000 respectively).

Liquidity and Solvency Concerns

• The repeated amendments of convertible debentures across January, February, and April 2026 indicate an inability to service original debt terms without restructuring.
• While extending maturity prevents immediate default, the necessity for three separate refinancing events within six months signals significant liquidity stress.
• Reduction in conversion/exercise prices increases potential dilution for existing shareholders upon exercise or conversion, though it lowers the barrier for future capital raising.

Corporate Profile

• Entity: Newlox Gold Ventures Corp.
• Focus: Exploration, development, and processing services for artisanal and small-scale mining (ASM).
• Flagship Initiative: The 10-year Joint Venture in Costa Rica is the primary operational focus, aiming to provide mercury-free processing facilities for ASM operators.