Toronto, Ontario--(Newsfile Corp. - September 24, 2025) - New Break Resources Ltd. (CSE: NBRK) ("New Break" or the "Company") is pleased to announce that the Company has elected to accelerate the expiry date of outstanding common share purchase warrants (the "Warrants") issued pursuant to certain of the Company's non-brokered private placements (the "Offerings") on the following dates:
- December 29, 2023 - 750,000 at $0.12
- December 29, 2023 - 1,250,000 at $0.15
- March 5, 2024 - 250,000 at $0.12
- November 15, 2024 - 6,106,000 at $0.12
- June 27, 2025 - 1,252,000 at $0.12
- September 5, 2025 - 6,188,000 at $0.12
Pursuant to the terms of the certificates evidencing the Warrants (the "Warrant Certificates"), as applicable, the Company may accelerate the expiry of the Warrants if the closing price of the common shares of the Company (the "Common Shares") listed on the Canadian Securities Exchange (the "CSE") is equal to or exceeds $0.25 for any five (5) non-consecutive trading days over a 365-day period (the "Acceleration Trigger"), to the date which is twenty (20) calendar days after the dissemination of a news release announcing the Acceleration Trigger.
As the closing price of the of the Common Shares on the CSE exceeded $0.25 per Common Share on each of September 17, 18, 19, 22 and 23, 2025, this news release constitutes notice to all holders of the above noted Warrants of the acceleration of the expiry date. Accordingly, the Company confirms that the above noted Warrants are now set to expire at 5:00 p.m. (Toronto time) on October 14, 2025 (the "Accelerated Expiry Date"). Any Warrants remaining unexercised after the Accelerated Expiry Date will expire and be of no force and effect.
Assuming all the Warrants are exercised, the Company will receive proceeds of approximately $1,933,020. The Company intends to use the proceeds for further exploration work on New Break's 100% owned Moray gold project and working capital purposes. There is no assurance that all of the Warrants will be exercised. Holders may exercise the Warrants before the Accelerated Expiry Date by observing the process as set out in the Warrant Certificates.
Common Shares issued in connection with the exercise of Warrants issued on June 27 and September 5, 2025, will have hold periods until October 28, 2025 and January 6, 2026, respectively.
The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About New Break Resources Ltd.
New Break is a proudly Canadian mineral exploration company focused on its Moray gold project located 49 km south of Timmins, Ontario, in a well-established mining camp within proximity to existing infrastructure, 32 km northwest of the Young-Davidson gold mine, operated by Alamos Gold Inc. Shareholders also remain leveraged to exploration success in Nunavut, a promising region in Canada for gold exploration and production, through New Break's 20% carried interest in the Sundog gold project. The Company is supported by a highly experienced team of mining professionals. Information on New Break is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.newbreakresources.ca. New Break trades on the Canadian Securities Exchange (www.thecse.com) under the symbol CSE: NBRK.
For further information on New Break, please visit www.newbreakresources.ca or contact:
| William Love, Chief Executive Officer Tel: 519-272-6312 E-mail: wlove@newbreakresources.ca | Michael Farrant, President and CFO Tel: 416-278-4149 E-mail: mfarrant@newbreakresources.ca |
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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 receipt of regulatory and stock exchange approvals, grants of equity-based compensation, the anticipated proceeds from the exercise of accelerated warrants, renouncement of flow-through exploration expenses, 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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SOURCE: New Break Resources Ltd.
