Newlox Gold Secures $2.1M in Convertible Financing

Newlox Gold Ventures (TSE:LUX) has released an update.

Newlox Gold Ventures Corp. successfully closed the fourth tranche of its convertible debenture financing, raising $564,000 and bringing the total to $2.1 million, with a final tranche expected in the next 45 days. The two-year debentures carry a 10% annual interest rate, convertible into common shares at $0.15 each, and the proceeds will bolster operations and growth. Additionally, the company issued warrants and broker warrants as part of the financing deal, all subject to a four-month hold period in Canada.

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