Newfoundland Discovery Company reaches $414,000 CAD debt settlement agreement… advancing new share issuance

Newfoundland Discovery Corp. (NEWDF) has reached an agreement with creditors to settle CAD 414,000 of debt. As part of this debt settlement, the company will issue units at a price of $0.09 per unit. Each unit consists of one common share and one variable warrant, which entitles the holder to purchase additional shares. Each warrant grants the holder the right to purchase additional shares at a price of CAD 0.12 per share within four years from the date of issuance.

All securities issued in connection with this debt settlement, according to applicable securities laws, will be subject to a statutory hold period of four months and one day from the date of issuance. Additionally, this settlement is subject to approval by the Canadian Securities Exchange (CSE).

The securities issued in connection with the debt settlement have not been registered under the U.S. Securities Act of 1933, and may not be offered or sold within the United States or to U.S. persons without registration or an applicable exemption from registration. This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction or under any circumstances where such offer or solicitation would be unlawful.

Newfoundland Discovery Corp. is a Canadian junior mineral exploration company focused on exploring and developing mineral resources in active mining regions of Canada. Its strategic asset portfolio includes lithium assets in the Hurst region of Ontario, precious and base metal projects in Newfoundland, and early-stage project interests in the Detour Lake gold mining district in Ontario.