Newlox Gold Ventures Corp. Operations Interruption and Proposed Expansion
Vancouver, 12 June 2020 - Newlox Gold Ventures Corp. ("Newlox" or the "Company") (CSE:LUX) | Frankfurt: NGO) announces that it has suspended operations at its first environmental remediation and precious metals production facility. Due to an alarming increase in COVID-19 infections, the local municipality has been designated as a quarantine zone.
Fortunately, in the interim, management continues to advance negotiations and due-diligence work on its proposed second clean technology gold production facility, as announced March 12th, 2020. Newlox has completed legal due-diligence on this second clean technology project and is moving towards a definitive agreement.
A Message from Ryan Jackson, President & CEO:
"We are thankful and fortunate to be able to report that there are currently no known cases of COVID-19 amongst any of our employees, contractors, or their families. We seek to prioritize health and safety in our communities.
While the interruption to operations is a temporary setback, Newlox continues to make progress advancing its business model. We will overcome these obstacles and emerge with enthusiasm to grow the current operation and expand at the new project."
Forward-Looking Information
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking information. Forward-looking information includes, but is not limited to, the completion of the work programs currently underway and the results of these programs. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, achievements, or performance may vary materially from those anticipated and indicated by these forward-looking statements. The material risk factors that could cause actual results to differ include the risk that work undertaken by the Company may have unintended effects, the risk of delays in completing work, and the risk that the Company may not be able to raise sufficient funds and Force Majeure. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, it can give no assurances that the expectations of any forward-looking information will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release).
Technical Disclaimer
The Company advises it is not basing any decision to produce on a feasibility study of reserves demonstrating the economic and technical viability of the project and also advises there is increased uncertainty and specific economic and technical risks of failure associated with any production decision. Stewart A. Jackson, Ph.D., P.Geo., a "Qualified Person" within the meaning of National Instrument 43-101, has prepared, supervised the preparation of, and approved the contents of this News Release.
On Behalf of the Board, Newlox Gold Ventures Corp.
Contact Newlox
Ryan Jackson, President
Newlox Gold Ventures Corp.
Website: www.newloxgold.com
Email: ryan@newloxgold.com
Phone: +1 778 738 0546
