HUGH G. MCCAULEY FILES EARLY WARNING REPORT REGARDING THE ACQUISITION OF SHARES OF NEWTOPIA INC.

TORONTO, June 2, 2023 /CNW/ - Hugh G. McCauley ("Mr. McCauley"), announces that today, he acquired 100,000 common shares (the "Shares") of Newtopia Inc. (TSXV: NEWU) ("Newtopia"), a company with its head office located at 33 Bloor Street East, 5^th Floor, Toronto, Ontario M4W 3H1, for a purchase price of $0.075 per Share (the "Share Purchase"). As a result of the Share Purchase, Mr. McCauley owns and controls approximately 13,994,500 Shares and 1,000,000 common share purchase warrants ("Warrants"), representing 10.0% of the Shares of Newtopia on a partially diluted basis.

Immediately prior to the Share Purchase, Mr. McCauley owned approximately 13,894,500 Shares and 1,000,000 Warrants, representing approximately 9.33% of the issued and outstanding Shares of Newtopia on a non-diluted basis (and representing approximately 9.93% on a partially diluted basis, assuming the exercise of all Warrants held by Mr. McCauley).

Following the Share Purchase, Mr. McCauley owns approximately 13,994,500 Shares and 1,000,000 Warrants representing approximately 9.40% of the issued and outstanding Shares of Newtopia on a non-diluted basis (and representing approximately 10.0% on a partially diluted basis, assuming the exercise of all Warrants held by Mr. McCauley).

Mr. McCauley is located at 58 Old Colony Rd, North York, Ontario M2L 2K1, Canada.

McCauley will file an early warning report pursuant to National Instrument 62-104 – Take-Over Bids and Issuer Bids on SEDAR (www.sedar.com) under his SEDAR profile. 

SOURCE Newtopia Inc.

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