The Albany Gazette - NWPG Announces Significant Reduction of Legacy Debt, Strengthening Balance Sheet Post-NFI Empire Merger

This non-cash adjustment, reflecting creditor consent to reduce outstanding obligations from the Company's pre-acquisition structure, was recognized in the Company's financial statements for the period. It directly improves key financial metrics and supports the Company's post-merger growth strategy.

Key Financial Benefits

• Cleaner and Stronger Balance Sheet: Eliminating this legacy debt substantially reduces total liabilities, enhancing the Company's overall financial position and equity metrics. This move lowers the debt burden carried over from prior operations.

• Improved Financial Flexibility: With reduced interest expense potential and a lighter liability structure, NWPG gains greater capacity to invest in operational scaling, digital initiatives (such as its white-glove auction platform), and facility expansions at the NFI Empire campus in North East, Pennsylvania.

• Positive Impact on Investors: The debt write-down minimizes dilution risks associated with potential future debt conversions or servicing and signals proactive capital structure management. This strengthens the foundation for long-term growth in the specialty automotive sector, where NFI Empire has demonstrated strong revenue generation (over $10 million annually pre-merger on a full-year basis).

"This debt elimination is a meaningful milestone as we integrate NFI Empire and execute our 24-month expansion plan," said Executive Chairman, Chris Nichols. "By cleaning up legacy obligations of NWPG, we are creating a more efficient, investor-friendly capital structure that prioritizes sustainable growth and value creation for NWPG shareholders."

The Company continues to focus on leveraging NFI Empire's profitable, asset-light automotive model; encompassing custom builds, restorations, consignments, and sales, while pursuing broad digital auction, platform, and marketplace opportunities.

About NFI Empire

NFI Empire (NFIEmpire.com) is the wholly owned operating subsidiary of Newport Gold, Inc., a North East, Pennsylvania-based custom automotive company known for exclusive builds, high-performance vehicles, and deep technical and digital expertise across both traditional and digital automotive sectors. The Company has ceased all mining-related operations; Newport Gold is now a holding company whose operations are conducted entirely through NFI Empire. NFI Empire's stated goal is to become the first publicly traded automotive enthusiast company to integrate a brick-and-mortar business model with a proprietary technology platform.

Investor Relations: [email protected]

Forward‑Looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements and include statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although the Company believes that its plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, the Company can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Company's control), assumptions and other factors that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for the Company's common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the SEC. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

SOURCE: Newport Gold, Inc.

View the original press release on ACCESS Newswire

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