Toronto, Ontario--(Newsfile Corp. - September 6, 2022) - New Break Resources Ltd. ("New Break" or the "Company") is pleased to announce that the Company's common shares ("Common Shares") have received final approval for listing from the Canadian Securities Exchange (the "CSE"). The Common Shares are expected to commence trading on the CSE under the trading symbol "NBRK" at market open on Wednesday, September 7, 2022. New Break will also be featured on the CSE's YouTube channel, CSE TV, as the Company rings the bell as part of a virtual open, including an interview with Michael Farrant, New Break's President and CEO. The video will be available on the Company's website at www.newbreakresources.ca.
The ISIN and CUSIP numbers for the Common Shares are CA6425831089 and 642583108, respectively. New Break currently has 40,155,750 Common Shares issued and outstanding. Of the 4,348,000 Common Shares owned by management and directors, 10% will be released from escrow in connection with the commencement of trading, while 3,913,200 will remain in escrow, with batches of 652,200 released every six months over a period of three years.
Michael Farrant, President and CEO of New Break, commented, "Successfully completing a listing of New Break's common shares on the CSE is a significant milestone and comes just under two years after acquiring our Moray property south of Timmins, Ontario and 32 km northwest of the Young-Davidson gold mine operated by Alamos Gold Inc. Over that period of time, we've also added an extremely exciting package of mineral properties in Kivalliq Region, Nunavut, including signing an Inuit Owned Lands Mineral Exploration Agreement on the Sundog gold project and staking the highly prospective gold mineralized Esker claim, just east of South Henik Lake, historically drilled by Comaplex Minerals Corp. As a private company, we assembled over 190 shareholders, raised sufficient capital to allow us to complete a non-offering prospectus, attracted an extremely talented team of mining professionals that makes up our management, board of directors and advisory group and were awarded a grant of up to $200,000 under the Ontario Junior Exploration Program. While having our shares trade publicly gives our shareholders liquidity and allows the Company greater access to capital, it does not change the already high standards at which we operate in terms of corporate, social and environmental responsibility and good governance. We will continue to advance our mineral property interests giving the highest regard to all of our stakeholders, including our shareholders and the communities in which we operate. I hope that all of our shareholders are proud of the Company we've built to date and continue to support us on the path to discovery."
About New Break Resources Ltd.
New Break is a Canadian mineral exploration and development company with a dual vision for value creation. In northern Ontario, New Break is focused on its Moray Project, in a well-established mining camp, within proximity to existing infrastructure, while at the same time, through our prospective land holdings in Nunavut, we provide our shareholders with significant exposure to the vast potential for exploration success in one of the most up and coming regions in Canada for gold exploration and production. These complimentary visions are supported by a highly experienced team of mining professionals committed to placing a premium on Environmental, Social and Corporate Governance, respecting the values and interests of all our stakeholders. Information on New Break is available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.newbreakresources.ca.
For further information on New Break, please contact:
Michael Farrant, President and Chief Executive Officer
No stock exchange, regulation securities provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.
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 statements regarding the listing of the Company's common shares on the CSE, comments regarding the timing and expectations for receipt of proof of shareholdings, 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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