Newlox Gold Announces Amendment of Convertible Debentures and Warrants

Executive Summary

• Newlox Gold Ventures Corp. proposes to amend its $564,000 aggregate convertible debentures and 3,760,000 common share purchase warrants issued in February 2024.
• The amendment would extend maturity dates to 28 Feb 2028, cut the debenture interest rate from 10% to 5%, and lower the conversion price from $0.15 to $0.11 per share.
• The warrant expiry would also be extended to 28 Feb 2028 with the exercise price reduced from $0.25 to $0.15 per common share.

Key Details

• Original Financing (Feb 2024): $564,000 of convertible debentures and 3,760,000 common share purchase warrants issued in a non‑brokered private placement.
• Debenture Amendments:
• Maturity extended by 24 months – new maturity 28 Feb 2028 (previously 28 Feb 2026).
• Interest rate reduced from 10% p.a. to 5% p.a..
• Proposed reduction of conversion price from $0.15 to $0.11 per share, subject to CSE approval.
• Warrant Amendments:
• Current expiry 28 Feb 2026 at an exercise price of $0.25 per share.
• Proposed new expiry 28 Feb 2028 (extension of two years).
• Proposed reduction of exercise price to $0.15 per common share, subject to CSE approval.
• Other Terms: All remaining terms of the debentures and warrants remain unchanged.
• Regulatory Action: The corporation will file applications with the Canadian Securities Exchange (CSE) seeking approval for the above amendments.

Notable Quotes

(No executive quotes were provided in the release.)