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Toronto, Ontario--(Newsfile Corp. - April 14, 2025) - New Break Resources Ltd. (CSE: NBRK) ("New Break" or the "Company") announces that from September 30, 2024 to April 10, 2025, John Ross Quigley, or companies wholly-owned by him, made a series of acquisitions in the market, acquiring in the aggregate 2,223,000 common shares ("Shares") in the capital of the Company (the "Acquisition").
Prior to the Acquisition, John Ross and Patricia Quigley (the "Acquiror") beneficially owned or exercised control or direction over 8,346,800 Shares, 3,048,000 Warrants and 240,000 stock options ("Options"), representing 16.26% and 21.31% of the outstanding Shares of the Company on an undiluted and partially diluted basis, respectively. After completion of the Acquisition, the Acquiror beneficially owns or exercises control or direction over 10,569,800 Shares, 3,048,000 Warrants and 240,000 Options, representing 18.41% and 22.82% of the outstanding Shares of the Company on an undiluted and partially diluted basis, respectively.
In satisfaction of the requirements of National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, an early warning report respecting the Acquisition of securities by the Acquiror will be filed under the Company's SEDAR+ Profile at www.sedarplus.ca. To obtain a copy of the early warning report filed by the Company, please contact Michael Farrant at (416) 278-4149 or refer to SEDAR+ under New Break's issuer profile.
The Acquisition was completed for investment purposes. Depending on market and other conditions, the Acquiror may from time to time in the future increase or decrease the ownership, control or direction over securities of the Company, through market transactions, private agreements, or otherwise.
About New Break Resources Ltd.
New Break is a proudly Canadian mineral exploration company focused on its Moray gold project located 49 km south of Timmins, Ontario, in a well-established mining camp within proximity to existing infrastructure, 32 km northwest of the Young-Davidson gold mine, operated by Alamos Gold Inc. In addition, shareholders remain leveraged to exploration success in Nunavut, one of the most up and coming regions in Canada for gold exploration and production through New Break's 20% carried interest in the Sundog gold project. The Company is supported by a highly experienced team of mining professionals. Information on New Break is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.newbreakresources.ca. New Break trades on the Canadian Securities Exchange (www.thecse.com) under the symbol CSE: NBRK.