Commissioned Successful Test of Beneficiation Plant and Issuance of Shares Pursuant to a Private Placing NI43-101
Vancouver, BC, June 1, 2015 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX) announces a private placement of 2,000,000 units at $0.05 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of Newlox for a period of up to two years from the date of closing for $0.10. A finder’s fee of C$4,000 was paid.
Among the participants in this private placement is Mr. Roger Dent who is CEO of Quinsam Capital Corp., a public company (CSE: QCA). After giving effect to the purchase of units on May 29, 2015, Roger Dent owns, in the aggregate, 1,170,000 Newlox shares, representing approximately 2.4% of the Newlox shares outstanding. In addition to Mr. Dent’s personal holdings, Quinsam Capital owns $132,830 of Newlox convertible debentures, 500,000 Newlox shares, and 3,000,000 Newlox warrants.
Quinsam Capital Corp. and Roger Dent may be considered to be joint actors. The joint actors beneficially own, directly or indirectly, or exercise control or direction over, an aggregate of 1,670,000 Newlox Shares. On a partially diluted basis, assuming the exercise of all warrants and convertible debentures, the joint actors have the potential to own or control an aggregate of 6,990,300 Newlox shares, which would represent 12.9% of the shares on a partially diluted basis.
“We think that Newlox represents a very interesting investment opportunity” said Roger Dent, CEO of Quinsam Capital Corp.
About Newlox Gold Ventures Corp.
Newlox Gold Ventures Corp. is not a mining company as it does not hold any mineral properties, nor does it conduct exploration or mining activities. It is an environmentally and socially responsible company pursuing precious metal related business opportunities in Latin America.
The Company is working in collaboration with the Norman B. Keevil Institute of Mining Engineering at the University of British Columbia and, with its experienced team in Central America, has established a waste remediation and gold recovery operation, which commenced operations in Q4 2014.
Newlox, through its wholly owned subsidiary, Oro Roca SA, is applying innovative processing technologies to historical tailings to achieve precious metals extraction and soil remediation. Newlox provides a valuable service to local stakeholders where there exist a large number of historical waste dumps (tailings) that pose social and environmental risks. Newlox is addressing this problem by reprocessing these materials to recover remaining values of minerals and cleaning up the environment.
The longer-term objective of Newlox is to establish a dividend paying enterprise, which will allow its shareholders to participate in equity value growth, share in profits, and contribute to environmental clean up, while setting a high standard of social responsibility.
On Behalf of the Board, Newlox Gold Ventures Corp.
Neither the Canadian Securities Exchange nor it Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements – Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the Company can fulfill such forward-looking statements and the Company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company’s control. The Company is not a mining or mineral exploration company and therefore holds no resources or reserves as defined by NI 43-101 nor does it carry on any mineral exploration or hold exploitation properties. The Company develops processes for economically viable waste remediation and therefore makes no claims in regard to tonnage or grade of feed material.
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