Newlox Gold Update on Accounting
Vancouver - Newlox Gold Ventures Corp. ("Newlox" or the "Company") (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF) reports that there has been a delay in the filing of its annual audited financial statements resulting in the issuance of a cease trade order (CTO) by the BC Securities Commission. Management has been working closely with the Company's independent auditing firm to expedite the filing, and no material issues have been found during the process. The audit is currently in the final stages, and management expects the auditing firm to complete the final review this week. However, given an independent accounting firm conducts the audit, the exact timing of the audit completion is beyond management's control. Every effort is being made to support the auditors in their work and all requested documentation has been submitted.
Newlox Gold confirms that the Company operations are continuing as planned. As announced in July, Newlox's operations have been advancing following the successful implementation of metallurgical optimization processes at its Costa Rican Operations earlier in the year. Looking forward, Newlox aims to continue making progress at Plants 1 and 2 in Costa Rica by boosting plant throughput and improving efficiency while exploring significant blue-sky opportunities in the Colombian market.
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. Grab sample results included in any press release are not necessarily indicative of the mineralization in general for the deposit. James Turner, 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.
Newlox Gold Ventures Corp.
Website: www.newloxgold.com
Email: info@newloxgold.com
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