Twitter Facebook LinkedIn YouTube

New Listing: Northway Resources (TSXV:NTW)

Video Platform Video Management Video Solutions Video Player

The Healy Project, which covers 14,500 hectares, is located within the Tintina Gold Belt, approximately 180 kilometers southeast of Fairbanks or 70 kilometers east of Delta Junction.

Additional Information:

Company: Northway Resources
Website: http://www.NorthwayResources.com
Stock Symbol: TSXV: NTW
Transcript: Available

Video Transcript:

I’m Fiona Forbes for Investmentpitch Media

Northway Resources is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “NTW”, following its initial public offering.

Zach Flood, President and CEO, stated: "We are very excited about closing this transaction and being listed as a new public company on the TSXV. Northway Resources was founded last year with the primary focus to explore for gold in Alaska. The Healy Project, which we have optioned from Newmont Goldcorp, presents significant opportunities for Northway in the Goodpaster Mining District, host of the Pogo gold mine. We have the advantage of picking up where Newmont left off, following multiple years of systematic regional exploration which has led to the definition of numerous drill-ready targets which have never been tested. We look forward to updating the market with drill results this fall as they become available."

The Healy Project, which covers 14,500 hectares, is located within the Tintina Gold Belt, approximately 180 kilometers southeast of Fairbanks or 70 kilometers east of Delta Junction.

The Pogo gold mine is the most significant lode gold discovery in the district, which was first drilled in 1994, and has been in commercial production since 2006 producing approximately 300,000 ounces of gold annually since then.

In order to earn its 70%, the company must incur US$4 million or CDN$5.4 million in exploration expenditures before December 31, 2022.

The company also owns 100% of the Napolean Project, located within the Fortymile Mining District, which has seen limited historical drilling.

The company raised gross proceeds of approximately $1.8 million from the placement of 18.5 million shares priced at $0.10 per share.

Haywood Securities and Echelon Wealth Partners acted as lead agents.

The company expects to complete a concurrent non-brokered private placement of 6.9 million shares at $0.10 per share, adding another $690,000 in working capital.

The shares are currently trading at $0.115.

For more information, please visit the company’s website www.NorthwayResources.com, contact Zach Flood, President and CEO, at 604-363-1779 or by email at zach@NorthwayResources.com.

I’m Fiona Forbes for Investmentpitch Media