News & Events zu Newton Golf Company Inc (NWTG)NWTGNewton Golf Company Inc

Newton Golf Announces Next Phase of Expansion in Japan

Newton Golf Company announced the next phase of its expansion in Japan. The initiative includes the relaunch of an enhanced Japanese e-commerce platform at NewtonGolf.jp, the local introduction of the company's updated 2.0 shaft platform and a new partnership with professional golfer Hiroyuki Fujita.

Newton Golf Enters U.S. Critical Minerals Sector by Acquiring Pole Canyon Project

Newton Golf Company announced its entry into the U.S. critical minerals sector through completing the acquisition of an option to acquire the Pole Canyon project, a historic beryllium-tungsten property in White Pine County, Nevada. This transaction gives Newton Golf direct exposure to two minerals the U.S. government has designated critical to national and economic security and recommended policy changes requiring a U.S. stockpile, at a time when investor and policy attention on domestic strategic-mineral supply chains is intensifying. As consideration for the acquisition, Newton Golf issued shares representing 19.9% of the Company's issued and outstanding common stock. The transaction marks Newton Golf's first step into a sector that has drawn increasing public market attention as the U.S. works to reduce its reliance on foreign sources for materials used in defense, aerospace and advanced manufacturing. Several other publicly traded companies have recently announced acquisitions of critical minerals projects, reflecting broader investor demand for domestic exposure to this theme. Newton Golf structured the transaction as an option in order to gain exposure to the Pole Canyon project while limiting the Company's near-term operating and capital commitments. Newton Golf does not currently intend to conduct mining operations directly. The Company intends to evaluate potential strategic agreements, collaborations or partnerships for the option and related rights, including joint ventures, a sale, or other structures intended to reach the Company's goal of increasing shareholder value. Newton Golf will continue operating its core business of premium golf equipment.

Newton Golf Company Secures $5M Credit Facility and Completes Note Exchange

Newton Golf Company entered into a $5M senior secured revolving credit facility and completed the exchange of approximately $2.3M of outstanding convertible promissory notes, including accrued interest, for Series A Convertible Preferred Stock. The revolving credit facility provides for borrowings of up to $5M, subject to the terms and conditions of the loan agreement, and matures on July 1, 2028. Proceeds from the credit facility will be used for working capital, capital expenditures, growth initiatives and other general corporate purposes. Under the exchange agreements, holders of outstanding convertible promissory notes exchanged approximately $2.3M of notes, including accrued interest, for an aggregate of 24,092.61 shares of Series A Convertible Preferred Stock. The Series A Preferred Stock is convertible into common stock at an initial conversion price of $1.00 per share, subject to the terms and limitations set forth in the certificate of designation. The exchange reduces outstanding indebtedness and further strengthens the company's balance sheet through the conversion of debt into equity.