An anonymous director reports

NEWLOX GOLD CLOSES A SECOND TRANCHE OF NON-BROKERED FINANCING FOR GROSS PROCEEDS OF $1.1 MILLION

Newlox Gold Ventures Corp. has closed a second tranche of a previously announced unsecured non-brokered convertible debenture financing for gross proceeds of $367,500. The total gross proceeds for both tranches are $1,152,500. The company expects to close a third and final tranche in mid-January, 2024.

The principal amount of the debentures will become due in two years from the closing date and will carry an interest rate of 10 per cent per annum, with interest payable semi-annually. The principal amount and any accrued interest are convertible at the option of the investor at a conversion price of 15 cents per common share from the closing date until the day before maturity. On maturity, the company will have the option to pay the principal amount and any accrued interest in cash or shares at the conversion price.

As part of the offering, the company issued 2.45 million warrants. Each warrant entitles the holder to purchase one common share of the company at an exercise price of 25 cents for two years from the closing of the offering.

A finder's fee consisting of $12,720 and 84,800 broker warrants was issued at an exercise price of 25 cents per common share for a period of two years from the closing date of the offering.

All securities issued pursuant to the offering will be subject to a four-month hold period under applicable securities laws in Canada.

Newlox will use proceeds from the private placement to support operations, expansion and grow productivity.

About Newlox Gold Ventures Corp.

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 effect positive change in the environmental and social landscape in its targeted jurisdictions of operations.

We seek Safe Harbor.