8 June 2023
Toronto, Ontario, June 8, 2023 – New Break Resources Ltd. (“New Break” or the “Company”) (CSE: NBRK) announces the repricing of 1,730,000 common share purchase warrants with an exercise price of $0.20 and an expiry date of June 23, 2023 (the “Repriced Warrants”), to $0.15, effective immediately (the “Warrant Repricing”). Following the Warrant Repricing, the Company will have an aggregate of 6,274,200 outstanding warrants, having an exercise price of $0.15 and an expiry date of June 23, 2023 (collectively, the “Subject Warrants”). The Company’s management considers the Warrant Repricing to be in the best interests of the Company and its shareholders and aligns the exercise price of all warrants having an expiry date of June 23, 2023, which expiry date is not being extended.
New Break is a Canadian mineral exploration company with a dual vision for value creation. In northern Ontario, New Break is focused on its Moray Project, in a well-established mining camp, within proximity to existing infrastructure, while at the same time, through our prospective land holdings in Nunavut, we provide our shareholders with significant exposure to the vast potential for exploration success in one of the most up and coming regions in Canada for gold exploration and production.