ACCESS Newswire·Jul 27, 2026, 9:00 AM ET

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

Newport Gold, Inc. (OTCID:NWPG) announced the write-down & removal of approximately $1,233,525 in legacy pre-merger debt during the first half of 2026.
The non-cash adjustment reflects creditor consent to reduce obligations from the company's pre-acquisition structure & was recognized in the financial statements for the period.
Eliminating this debt substantially reduces total liabilities, enhancing the company's balance sheet & equity metrics.
The move improves financial flexibility by lowering potential interest expenses, allowing greater capacity to invest in operational scaling, digital initiatives, & facility expansions at the North East, Pennsylvania campus.
Executive Chairman Chris Nichols stated the debt elimination creates a more efficient capital structure to support the 24-month expansion plan & value creation for shareholders.
NFI Empire remains the wholly owned operating subsidiary focused on custom automotive builds, restorations, consignments, & sales, having ceased all mining-related operations.
NFI Empire targets becoming the first publicly traded automotive enthusiast company to integrate a brick-and-mortar model with a proprietary technology platform.
The company reported generating over $10 million annually on a full-year basis pre-merger within the specialty automotive sector.