Newport Gold Engages PCAOB-Registered Auditor for Uplisting Strategy

Newport Gold, Inc., a North East, Pennsylvania-based holding company, has taken a significant step toward enhancing its corporate governance and financial transparency. The company has engaged a PCAOB-registered auditor to conduct audits of its fiscal years ending December 31, 2025, and 2024. This move is part of a broader strategy to transition the company from the OTCID market to the OTCQB Venture Market and eventually prepare for a potential listing on a major stock exchange.

According to Chris Nichols, Executive Chairman of Newport Gold, Inc., and NFI Empire, this engagement marks a foundational step in the company's uplisting strategy. "Engaging a PCAOB-registered firm for the audit of our financial statements is the solid foundation for everything that follows," said Nichols. "Once the audit is complete, our path is clear and deliberate: first, we complete the remaining corporate governance requirements to apply for a move to the OTCQB Venture Market; second, we start the process for the preparation to file a Form 10 Registration Statement to become a fully reporting SEC issuer."

The company plans to apply for a change of trading venue from the OTCID market to the OTCQB Venture Market upon meeting the eligibility requirements set by OTC Markets, Inc. These requirements include achieving an initial bid price of at least $0.05 and having two independent directors on the board, along with an audit committee. Nichols emphasized that this transition is expected to enhance the transparency, liquidity, and visibility for shareholders.

Following submission of the OTCQB application, Newport Gold will begin the process of preparing and filing a Form 10 registration statement with the U.S. Securities and Exchange Commission (SEC) to register its common stock under Section 12(g) of the Securities Exchange Act of 1934. This filing will also require the completion of the audit of the fiscal years ending December 31, 2025, and 2024 for the company's wholly-owned subsidiaries: ROI Dealership, LLC, NFI Holding, LLC, and NFI Auctions, LLC.

Upon effectiveness of the Form 10, Newport Gold will become a fully reporting issuer, subject to the periodic and current reporting requirements of the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. The company's long-term objective is to position itself for a potential uplisting to a national exchange such as The NASDAQ Capital Market or NYSE American, subject to meeting applicable quantitative and qualitative listing standards, completion of SEC and OTC Markets review, and market conditions.

Newport Gold, Inc. is focused on high-growth opportunities through its operating subsidiary NFI Empire, a custom automotive company specializing in exclusive builds, high-performance vehicles, and the integration of traditional and digital automotive expertise. 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.

This strategic move by Newport Gold, Inc. underscores the company's commitment to enhancing its corporate governance and financial transparency, setting the stage for potential future growth and listing on a major stock exchange.