Newport Gold Inc. (“Newport”) (OTC: NWPG) announced today that it has entered into an agreement with Gunpowder Capital Corp., (CSE: GPC), (CSE: GPC.PR.A), (OTCQB: GNPWF), (Frankfurt: YS6N), (“Gunpowder” or the “Corporation”).
Newport Gold Inc., has retained GPC to assist Newport in listing its common shares onto the Canadian Securities Exchange, including assisting Newport with various administrative and compliance matters related to the listing process and assisting Newport with the drafting and filing of a non-offering prospectus with the Ontario Securities Commission.
As compensation to GPC for its services, Newport Gold Inc., will pay GPC a one-time advisory fee of Twenty-Five Thousand Dollars (“$25,000.00”) CDN plus HST, plus expenses related to the “go public” advisory services which includes assistance in drafting a non-offering prospectus. Furthermore, post listing onto a Canadian Stock Exchange, Newport Gold Inc., will issue Two Hundred and Fifty Thousand Dollars (“$250,000.00”) worth of common shares to GPC. The common shares will be issued upon completion of the listing of Newport’s common shares onto the Canadian Securities Exchange. The common shares will also be issued at the last quoted closing price on the OTC Markets the day before the listing onto the Canadian Securities Exchange (“CSE”).
Mr. Paul Haber Stated: “We are extremely pleased and excited to be working with Newport with this endeavor. This is our fourth US-listed company that we are cross-listing into Canada. We believe the CSE is a much stronger market for junior companies. Obtaining the Canadian Securities Exchange listing will help Newport realize its full potential.”
About Newport Gold Inc.
Newport Gold Inc., is a development stage company that has acquired the World-Wide rights to develop and commercialize a high performance, high efficiency, patent pending, specialized mining machine. Newport Gold pursuant to a license agreement with Eco-Orex Technologies intends to finance, develop, manufacture and market the machines to the mining industry. The mining machines will utilize a transformational ore disintegration technology which employs Cavitation. The proprietary technology is a chemical-free, high recovery, environmentally friendly process that allows for the disintegration and concentration of minerals in ore in one single operation. Newport also still retains some mining claims in the Greenwood Mining District in British Columbia. For more information please visit: www.newport.gold
About Gunpowder Capital Corp.
Gunpowder Capital Corp., is a merchant bank and advisory services firm based in Toronto, Ontario, Canada. Gunpowder invests in both publicly traded and private businesses that have successful management teams and attractive economic models. Gunpowder partners with these businesses to support their growth initiatives with its proven methodology of appropriate financing and structured exits. Gunpowder offers debt financing, including mezzanine and bridge loans, equity financing and advisory services. Gunpowder is also building a portfolio of companies in which it takes a long-term position and view. For more information please visit www.gunpowdercapitalcorp.com
Contact Information:
Newport Gold Inc.
Mr. Derek Bartlett, B.Sc (Geology)
President, CEO and Director
905-542-4990
Disclaimer on Forward-Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the company’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words “anticipate, “believe, “estimate”, “plan”, “intend” and “expect” and similar expressions, as they relate to Newport Gold Inc. or its management are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the company and are subject to a number of risks, uncertainties and other factors that could cause the company’s actual results, performance, prospects and opportunities to differ materially from those expressed in, or implied by these forward-looking statements. The company does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or for any other reason.
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Original Source: Newport Gold Inc. Engages Gunpowder Capital Corp.
