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New Point Exploration (CSE: NP) New Listing

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New Point has entered into an option agreement to acquire a 100% interest in the Columbia Shear Property, which is located on Vancouver Island, British Columbia, approximately 30 kilometres southeast of the town of Port Alberni and 45 kilometres northwest of the town of Lake Cowichan.

Additional Information:

Company: New Point Exploration
Stock Symbol: CSE: NP
Date Published: Dec 21, 2017
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

New Point Exploration (CSE:NP) is the latest new listing on the Canadian Securities Exchange, trading under the symbol “NP”.

The company raised gross proceeds of $350,000 by way of a prospectus offering of 3.5 million shares priced at $0.10 per share.

Mackie Research Capital acted as agent for the offering.

New Point has entered into an option agreement to acquire a 100% interest in the Columbia Shear Property, which is located on Vancouver Island, British Columbia, approximately 30 kilometres southeast of the town of Port Alberni and 45 kilometres northwest of the town of Lake Cowichan.

The Columbia Shear Property consists of 23 contiguous mineral tenures comprising approximately 3,350 hectares located near Cowichan Lake, British Columbia.

To exercise its option, New Point is required to:
• pay $105,000 in cash payments
• issue 600,000 Common Shares, and
• incur an aggregate minimum of $400,000 in exploration expenditures

Of the 101 rock samples collected in 2017, 27 were weakly to moderately anomalous in copper with values ranging from 200 to 3000 parts per million and 13 were strongly anomalous with copper values greater than 3000 parts per million.

Silver values were also anomalous for these samples.

One of these samples returned 4.55% copper.

This appears to be a new discovery on the Columbia Shear Property and additional follow up work is recommended.

The shares have yet to trade and have a bid at $0.11. With 11.3 million shares outstanding, the company has a deemed capitalization of $1.2 million.

For more information, please contact Robert Coltura, President and CEO, at 604-683-8610 or email rcoltura@matalia.ca.

I’m Samantha Deutscher for Investmentpitch Media