Newpath Resources Inc. Announces Private Placement Financing
Vancouver, Sept. 29, 2023 - Newpath Resources Inc. (CSE: PATH) (FSE: 0MZ) (OTC Pink: RDYFF) ("Newpath" or the "Company") announces that the Company plans to complete a private placement offering of up to $300,000 by issuance of up to 2,000,000 units at a price of $0.15 per unit (the "Offering"). Each unit (a "unit") will be comprised of one common share in the capital of the Company and one-half of one common share purchase warrant (each whole warrant, a "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 $0.20 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 Resources Inc. is a Canadian exploration company listed on the Canadian Securities Exchange under the symbol PATH. Newpath's early-stage Orefield Critical Metal Exploration Project, which is comprised of three claim groups (Alpha/Bravo, Charlie, and Delta) now totalling 3,164 claim units covering approximately 667,106 Ha (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.
On Behalf of the Board of Directors,
"Alexander McAulay"
Chief Executive Officer
Email: amcaulay@newpathresource.com
CEO Direct Line: +1 (604) 365-0425
www.newpathresource.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This news release may contain certain "forward-looking information". Forward-Looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as "aim", "aims to", "may", "would", "could", "will", "will be" "likely", "expected", "anticipated", "proposed", "believe", "intend", "intent", "looking", "plan", "forecast", "project", "estimate", "outlook", "hope". Forward-Looking information included in this news release includes, but is not limited to, statements with respect to launching the Offering, closing the Offering, and use of funds. Forward-Looking information is based upon the assumptions and estimates considered reasonable by management of the Company as of the date such statements are made. Forward-Looking information involves known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Risks that may cause the forward-looking information contained herein to be materially different from the future results, performance or achievements expressed or implied by the forward-looking information contained herein include, but are not limited to, the receipt of all necessary regulatory and shareholder approvals if required, key personnel and qualified employees continuing their involvement with the Company, the competitive conditions of the industries in which the Company operates, the availability of material projects, capital expenditures and other costs, repayment of debt, financing and additional capital requirements. As a result, readers are cautioned not to place undue reliance on any forward-looking information. Any statement containing forward-looking information speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES