Newlox Gold Reports 145% Quarterly Revenue Growth in Q3 Financials
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Vancouver, BC - TheNewswire - 4 March 2022 - Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE:LUX) (CNSX:LUX.CN) (Frankfurt/Stuttgart:NGO) (OTC:NWLXF) is pleased to announce 145% quarter-over-quarter revenue growth from $319,780 in the second quarter to $784,419 in the third quarter.
The Newlox operations team has continued to execute the ramp-up of operations at the Company’s first EGS-focused artisanal tailings remediation and precious metals recovery plant in Costa Rica.
As a result of the increased revenue realized during the quarter, the Company reported a small comprehensive loss for the period of $49,530, compared to $489,685 during the previous quarter. Newlox Gold closed the third quarter with a strong cash position, which will continue to support the Company’s growth strategy.
Newlox Gold’s full unaudited quarterly financial statements and management discussion and analysis are available to the public on SEDAR (www.sedar.com).
A Message from Ryan Jackson, President & CEO:
“We would like to take this opportunity to commend the Newlox operations team on the progress they have made during the quarter. Despite confronting logistical challenges, the Company’s operations at Plant 1 have been increasing in output resulting in the enhanced revenue seen in the third quarter. Newlox Gold plans to continue to deliver growth as it completes the ramp-up of Plant 1 and moves forward at the upcoming Boston Project.”
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. Stewart A. Jackson, Ph.D., 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.
Contact Newlox Gold
Ryan Jackson
Newlox Gold Ventures Corp., President
Website: www.newloxgold.com
Email: info@newloxgold.com
Phone: + 1 604 256 0493
