Mr. Alexander McAulay reports
NEWPATH ANNOUNCES PRIVATE PLACEMENT FINANCING
Newpath Resources Inc. plans to complete a private placement offering of up to $300,000 by issuance of up to two million units at a price of 15 cents per unit. Each unit will be composed of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant shall entitle the holder to acquire an additional common share of the company for a period of 12 months from the closing of the offering, subject to acceleration provisions, at an exercise price of 20 cents per share.
The proceeds raised from the offering are expected to be used for exploration and general working capital.
All units to be issued pursuant to the offering will be subject to a four-month hold under applicable securities laws in Canada.
About Newpath Resources Inc.
Newpath is a Canadian exploration company listed on the Canadian Securities Exchange under the symbol PATH. Newpath's early-stage Orefield critical metal exploration project is composed of three claim groups (Alpha/Bravo, Charlie and Delta), now totalling 3,164 claim units covering approximately 667,106 hectares (approximately 667 square kilometres) west and southwest of Lake Nipigon in Northern Ontario. The company also wholly owns the Northshore gold project located in the Schreiber-Hemlo greenstone belt.
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