New Break Resources plans $550,000 flow-through share offering

New Break Resources Ltd. (CSE: NBRK) (OTCQB: NBRKF) (FSE: O91) announced plans for a non-brokered private placement of up to 2,500,000 flow-through common shares at $0.22 per share, targeting gross proceeds of up to $550,000.

According to a company statement, proceeds will be directed toward Canadian Exploration Expenses at the company's Moray gold project, located approximately 49 km southeast of Timmins, Ontario, to fund ongoing drilling activity. The company said it will renounce the exploration expenses to purchasers with an effective date no later than December 31, 2026.

Finder's fees of 6% of gross proceeds may be paid to qualified finders, along with warrants entitling finders to purchase common shares equal to 6% of flow-through shares sold by each finder, at $0.22 per share, exercisable for 24 months from closing.

Securities issued under the offering are subject to a four-month-and-one-day statutory hold period under Canadian securities law. Closing is expected within two business days, pending approvals including that of the Canadian Securities Exchange.

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