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New Found Announces $50 Million Bought Deal Financing
New Found Announces $50 Million Bought Deal Financing Canada NewsWire ...
About this update from New Found Gold Corp
[{"type":"text","content":"\n \n \n \n New Found Announces $50 Million Bought Deal Financing\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Aug. 17, 2021\n \n /CNW/ -\n \n New Found Gold Corp.\n \n (\"\n \n New Found\n \n \" or the \"\n \n Company\n \n \") (TSXV: NFG) (OTC: NFGFF) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. and BMO Capital Markets on behalf of a syndicate of underwriters (collectively, the \"\n \n Underwriters\n \n \"), pursuant to which the Underwriters have agreed to purchase, on a \"bought deal\" basis, 4,390,000 flow-through common shares of the Company (the \"\n \n Flow-Through Shares\n \n \") that will qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the Income Tax Act (\n \n Canada\n \n )) at a price of\n \n $11.39\n \n per Flow-Through Share (the \"\n \n Offering Price\n \n \") for gross proceeds of\n \n $50,002,100\n \n (the \"\n \n Offering\n \n \").\n \n \n The Company has granted the Underwriters an option, exercisable at the Offering Price for a period of 30 days following the Closing Date (as defined herein), to purchase up to an additional 15% of the number of Flow-Through Shares sold under the Offering to cover over-allotments, if any and for market stabilization purposes. The Offering is expected to close on or about\n \n August 24, 2021\n \n (the \"\n \n Closing Date\n \n \") and is subject to the Company receiving all necessary regulatory approvals.\n \n \n The gross proceeds of the Offering will be used by the Company to incur eligible \"Canadian exploration expenses\" that will qualify as \"flow-through mining expenditures\" as such terms are defined in the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (the \"\n \n Qualifying Expenditures\n \n \") related to the Company's Queensway Project located in\n \n Newfoundland, Canada\n \n and on the Company's...