New World Gold Corporation (OTC Pink: NWGC), a gold mining and milling
company with existing operations in Ecuador and Peru, is issuing this
press release as a follow-up to its release of September 22, 2015, to
remind its shareholders of the dates and procedures specific to the
royalty from the production of the new BR Mine, which goes into
production on November 1, 2015.
Once in full production, the Company has forecast gold production from
the BR Mine to be 6 grams of gold per ton from the projected processing
of 100 tons of ore per day (20 ozs of gold). The royalty will be paid to
“qualifying shareholders” (see below) and will be up to 25% per year or
a maximum of $2,000,000 US of the revenue from annualized production
solely from the BR Mine. (The Company cannot guarantee the amount of the
royalty, in whole or in part, due to multiple variables.)
Assuming a maximum $2,000,000 royalty to be paid per year against a
maximum of all the Company's authorized shares of common stock,
3,000,000,000 shares, the royalty would equate to $.0007 per share per
year.
Once production begins, royalties will be accrued by the Company per
calendar month, and paid at six month calendar intervals after October
30, 2015, for as long as the BR Mine is in production, but for a period
not to exceed 24 months, or until October 30, 2017, after which the
royalties will terminate.
Each royalty payment shall be made within the first 75 calendar days
following the end of its respective six month accrual period.
“Qualifying shareholders” are shareholders of record as of the market
close of Friday, October 30, 2015, holding title to not less than
1,000,000 shares of common stock of the Company at that time and who are
holding title to not less than the same amount as of the market close on
Friday, April 29, 2016.
Each shareholder initially qualifying as of October 30, 2015 will
receive a written confirmation from the Company of their qualification
to receive the royalty (pending their holdings on April 29, 2015) not
later than January 31, 2016. In response to the Company letter, the
shareholder may provide payment instructions, including directing
payment to the shareholder or her/his successors or assigns. (If you
believe you qualified for a royalty payment but did not receive a
confirmation, please contact the Company by email not later than
February 15, 2016.)
Once again, please direct any questions regarding the royalty or its
payment to the Company's email address.
New World Gold Corporation trades in the United States on the OTC Pink
under the symbol “NWGC”. For further information, please contact the
Company at (561) 210-8496 or www.newworldgoldcorp.com
or investors can find real time quotes and market information for the
Company on www.otcmarkets.com.
NOTE: This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
involving risks and uncertainties. Results, events and performances
could vary from those contemplated. These statements involve risks and
uncertainties which may cause results, expressed or implied, to differ
from predicted outcomes. Risks and uncertainties include but are not
limited to product demand, market competition and New World Gold's
ability to meet current and future plans. Investors should study and
understand all risks before making an investment decision. Readers are
recommended not to place undue reliance on forward-looking statements or
information. New World Gold is not obligated to publicly release
revisions to any forward-looking statement, to reflect events or
circumstances afterward, or to disclose unanticipated occurrences except
as required under applicable law.
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