Mr. William Love reports
NEW BREAK ANNOUNCES ACCELERATION OF WARRANT EXPIRY DATES
New Break Resources Ltd. has elected to accelerate the expiry date of outstanding common share purchase warrants issued pursuant to certain of the company's non-brokered private placements on the following dates:
- Dec. 29, 2023 -- 750,000 at 12 cents;
- Dec. 29, 2023 -- 1,250,000 at 15 cents;
- March 5, 2024 -- 250,000 at 12 cents;
- Nov. 15, 2024 -- 6,106,000 at 12 cents;
- June 27, 2025 -- 1,252,000 at 12 cents;
- Sept. 5, 2025 -- 6,188,000 at 12 cents.
Pursuant to the terms of the certificates evidencing the warrants, as applicable, the company may accelerate the expiry of the warrants if the closing price of the common shares of the company listed on the Canadian Securities Exchange (the CSE) is equal to or exceeds 25 cents for any five non-consecutive trading days over a 365-day period, to the date which is 20 calendar days after the dissemination of a news release announcing the acceleration trigger.
As the closing price of the of the common shares on the CSE exceeded 25 cents per common share on each of Sept. 17, Sept. 18, Sept. 19, Sept. 22 and Sept. 23, 2025, this news release constitutes notice to all holders of the above noted warrants of the acceleration of the expiry date. Accordingly, the company confirms that the above noted warrants are now set to expire at 5 p.m. (Toronto time) on Oct. 14, 2025 (the accelerated expiry date). Any warrants remaining unexercised after the accelerated expiry date will expire and be of no force and effect.
Assuming all the warrants are exercised, the company will receive proceeds of approximately $1,933,020. The company intends to use the proceeds for further exploration work on New Break's 100-per-cent-owned Moray gold project and working capital purposes. There is no assurance that all of the warrants will be exercised. Holders may exercise the warrants before the accelerated expiry date by observing the process as set out in the warrant certificates.
Common shares issued in connection with the exercise of warrants issued on June 27 and Sept. 5, 2025, will have hold periods until Oct. 28, 2025, and Jan. 6, 2026, respectively.
About New Break Resources Ltd.
New Break is a proudly Canadian mineral exploration company focused on its Moray gold project located 49 kilometres south of Timmins, Ont., in a well-established mining camp within proximity to existing infrastructure, 32 km northwest of the Young-Davidson gold mine, operated by Alamos Gold Inc. shareholders also remain leveraged to exploration success in Nunavut, a promising region in Canada for gold exploration and production, through New Break's 20-per-cent carried interest in the Sundog gold project. The company is supported by a highly experienced team of mining professionals. .
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