New Point is a next-generation metals company focused on the growing battery industry for electric vehicles.
New Point Exploration Corp is engaged in the business of acquiring, exploring and developing mineral properties related to the growing battery industry. Focused on high grade, prospective properties in North America, New Point is building a portfolio that includes lithium, cobalt and copper projects in prospective, mining-friendly jurisdictions.
• New Point Exploration is adding value to North American mineral projects
• Mission: To acquire and advance quality lithium, cobalt,copper and other “battery metals” properties
• The company has a lease assumption agreement to acquire 100% of the Majuba Hill Copper Property, Nevada USA
• Capital Structure: 15 million shares outstanding, 20million fully diluted
• Managed by CEO & President Bryn Gardener-Evans (Former Senior Vice President with Richardson GMP)
New Point Exploration
July 06, 2018
VANCOUVER—July 6, 2018—New Point Exploration Corp. (CSE: NP / OTC: NPEZF / Frankfurt: 4NP)(“New Point” or the “Company”) is pleased to announce the closing of the first tranche (the “First Tranche”) of the previously announced non-brokered private placement (the “Placement”).
Under the first tranche the company has issued 6,673,000 units at a price of C$0.25 per unit (the “issue price”), for aggregate proceeds of C$1,668,250. Each unit consists of one common share and one halfshare purchase warrant. Each warrant will entitle the holder to acquire an additional share at a price of $0.35 for a period of one year from closing. A total of $12,000 cash and 48,000 finders warrants priced at $0.35 (one-year expiry date) were paid/issued as finder fees in connection with this closing.
The net proceeds of the financing will be used for exploration and development at the Majuba Hill property, project acquisition and exploration, and general working capital.
About New Point Exploration Corp.
New Point (CSE: NP) is engaged in the business of acquiring, exploring and developing mineral properties related to the growing battery industry. Focused on high grade, prospective properties in North America, New Point is building a portfolio that includes lithium, cobalt and copper projects in prospective, mining-friendly jurisdictions. New Point, A Next Generation Metals Company.
On Behalf of the Board of New Point Exploration Corp.
President & CEO
corporate Office1240-1140 West Pender St
Vancouver, BCV6E 4G1
TERM SHEET FOR PRIVATE PLACEMENT
Newpoint Exploration Corp.
Units of the Issuer (“Units”) offered on a non-brokered private placement basis.Each Unit will consist of one common share (a “Share”) and one-half of a common share purchase warrant (a “Warrant”).
CDN$0.25 per Unit
Each whole Warrant entitles the holder to purchase one common share at any time for a one year period at a price of CDN$0.35 per share.
Commissions or Finder Fees
Subject to entering into a written agreement with the Issuer, a broker or finder will be compensated by way of the payment of a cash of 8% and the issue of compensation warrants equal to 8% of the Units sold to subscribers introduced by such person.Compensation warrants will have the same terms as the Warrants that form part of the Unit Offering.
The Units are offered pursuant to prospectus and registration exemptions in provincial jurisdictions in Canada and may be offered on an exempt basis in certain jurisdictions outside of Canada, including the United States.The Offering will be subject to resale restrictions under provincial securities laws in Canada, including a four month hold period.
Terms & Conditions
The terms and conditions of this private placement offering are set out in a private placement subscription agreement.