Newpath Announces Private Placement Financing
Newpath Announces Private Placement
Financing
Vancouver, British Columbia--(Newsfile Corp. - September 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,
NEWPATH RESOURCES INC.
"Alexander McAulay"
Chief Executive Officer
Email:
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
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/182475