The acquisition, which increases the Company's land position at Moray to approximately 5,354 hectares, closed on
Early Warning Notice of
The Company also announces that in connection with the closing of its non-brokered flow-through financing (the 'F-T Offering') and in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ('NI 62-103'), on
Prior to the acquisition of 1,350,000 Shares (the 'Acquisition') as part of the F-T Offering, the Acquiror beneficially owned or exercised control or direction over 3,948,800 Shares and 187,500 common share purchase warrants ('Warrants'), representing 9.21% and 9.61% of the outstanding Shares of the Issuer on an undiluted and partially diluted basis, respectively. After completion of the Acquisition, the Acquiror beneficially owned or exercised control or direction over 5,298,800 Shares and 187,500 Warrants, representing 11.47% and 11.83% of the outstanding Shares of the Issuer on an undiluted and partially diluted basis, respectively.
The acquisition of the Shares by the Acquiror was made for investment purposes. Depending on market and other conditions, the Acquiror may from time to time in the future increase or decrease their respective ownership, control or direction over securities of the Company through market transactions, private agreements, or otherwise. As the number of Shares the Acquiror owned or controlled, directly or indirectly now exceeds 10% of the issued and outstanding Shares on a partially diluted basis, in satisfaction of the requirements of the National Instrument 62-104 - Take-Over Bids And Issuer Bids and NI 62-103, an early warning report for the Acquiror will be filed on the Company's SEDAR profile at www.sedar.com.
Grant of Stock Options
The Company also announces that it has granted incentive stock options to two consultants, with such options entitling the holders thereof to acquire an aggregate of up to 300,000 common shares in the capital of the Company at an exercise price of
About
New Break is a Canadian mineral exploration company with a dual vision for value creation. In northern
Contact:
Tel: 416-278-4149
Email: mfarrant@newbreakresources.ca
CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION
Except for statements of historic fact, this news release contains certain 'forward-looking information' within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to receipt of regulatory and stock exchange approvals, grants of equity-based compensation, renouncement of flow-through exploration expenses, property agreements, timing and content of upcoming work programs, geological interpretations, receipt of property titles, an inability to predict and counteract the effects global events on the business of the Company, including but not limited to the effects on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains etc. Forward-looking information addresses future events and conditions and therefore involves inherent risks and uncertainties, including factors beyond the Company's control. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update publicly or otherwise any forward-looking information, except as may be required by law. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's financial statements and management's discussion and analysis (the 'Filings'), such Filings available upon request.
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