Cancellation to Strengthen Shareholder Value and Eliminate Dilution Overhang
NORTH EAST, PA / ACCESS Newswire / June 4, 2026 / Newport Gold, Inc. (OTCID:NWPG), a diversified holding company focused on high-growth opportunities in automotive, data, and digital technology, today announced that it is in final processing of the cancellation of a significant block of Common Stock to be returned to treasury.
The Company has finalized a previous agreement with the stockholder who is now undertaking the necessary steps for the final cancellation process of up to 24,800,000 shares of Common Stock of the Company back to treasury (the "Share Cancellation"). This action by the Company underscores management's commitment to the long-term interests of Newport Gold's public shareholders and reflects their confidence in the Company's strategic direction.
Highlights and Benefits of Share Cancellation
Reduced Float: The permanent retirement of up to 24,800,000 shares directly reduces the total number of shares issued and outstanding, increasing each remaining shareholder's proportional ownership in the Company.
Enhanced Per-Share Metrics: With fewer shares in circulation, key per-share measures, including net asset value per share and any future earnings per share, are positively impacted, reflecting the full value of the Company's assets across a smaller share base.
Founder Alignment with Shareholders: The voluntary surrender and cancellation of these shares by insiders, without compensation, demonstrates a clear alignment of interest between the founding team and Newport Gold's public investor base.
Elimination of Dilution Overhang: The permanent removal of this share block eliminates potential dilution risk associated with insider holdings, providing greater transparency and confidence to current and prospective investors evaluating the Company's capital structure.
Signal of Long-Term Confidence: In the OTC, voluntary insider share cancellations are a rare and meaningful gesture. This action reflects the founders' belief that Newport Gold's underlying asset value and potential are best realized by concentrating ownership among committed long-term stakeholders.
"The cancellation of the 24.8 million shares of Common Stock represents our team's tangible commitment to the shareholders who have supported Newport Gold," said Chris Nichols, Executive Chairman of Newport Gold, Inc. "We believe this action reinforces that our interests are fully aligned with creating meaningful shareholder value. Every share that remains outstanding now carries a greater stake in what we are building long term."
Upon completion of this Share Cancellation, the Company will notify our public shareholders with a follow-up press release.
About Newport Gold, Inc. (OTCID:NWPG)
Newport Gold, Inc. (NewportGoldInvest.com) is a diversified holding company focused on high-growth opportunities in automotive, data, and digital technology. Evolved from its origins in mineral exploration, the company applies its asset-identification expertise to "mine" scalable opportunities in the digital economy through strategic acquisitions and investments.
About NFI Empire
NFI Empire (NFIEmpire.com) is the premier portfolio company of Newport Gold, Inc. - a North East, Pennsylvania-based custom automotive company known for exclusive builds, high-performance vehicles, and deep technical expertise. NFI Empire is an emerging leader across both traditional and digital automotive sectors.
Investor Relations: investor@NewportGoldInvest.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Terms such as "believe," "anticipate," "intend," "expect," "may," "project," and similar expressions identify forward-looking statements. These statements involve risks and uncertainties; actual results may differ materially from expectations. See the Company's SEC filings for risk factors. Newport Gold undertakes no obligation to update forward-looking statements except as required by law.
SOURCE: Newport Gold Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/newport-gold-processing-the-cancellation-of-common-stock-1173274
