Business
New Found Gold Closes Bought Deal Financing Including Full Exercise of Underwriters' Over-Allotment Option for Gross Proceeds of $115M
All amounts in Canadian dollars unless otherwise noted Vancouver, British Columbia--(Newsfile Corp. - April 27, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE
About this update from New Found Gold Corp
[{"type":"text","content":" All amounts in Canadian dollars unless otherwise noted Vancouver, British Columbia--(Newsfile Corp. - April 27, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) (\"New Found Gold\" or the \"Company\") is pleased to announce that it has closed its previously announced \"bought deal\" public offering of 38,870,000 common shares of the Company (the \"Common Shares\") at a price of $2.96 per Common Share (the \"Offering Price\"), including the exercise, in full, of the Underwriters' (as defined below) over-allotment option (the \"Over-Allotment Option\") of 5,070,000 Common Shares at the Offering Price per Common Share, for aggregate gross proceeds of $115,055,200 (the \"Offering\"). The Offering was completed pursuant to an underwriting agreement, dated April 22, 2026, entered into among the Company and a syndicate of underwriters led by BMO Capital Markets and SCP Resource Finance LP and including Canaccord Genuity Corp., National Bank Financial Inc., Paradigm Capital Inc., Roth Canada, Inc., ATB Cormark Capital Markets, Beacon Securities Limited, CIBC Capital Markets, Desjardins Capital Markets and Stifel Canada (collectively, the \"Underwriters\"). Both EdgePoint Investment Group Inc. and Mr. Eric Sprott participated in the Offering with co-lead orders. Mr. Sprott has maintained his approximate 19% shareholdings. In connection with the closing of the Offering, the Company paid to the Underwriters a cash fee in the aggregate amount of $5,160,441, representing (i) 5.25% of the gross proceeds of the Offering, other than the gross proceeds raised from certain sales pursuant to a president's list (the \"President's List Sales\"); and (ii) 1.0% of the gross proceeds raised from President's List Sales. BMO Capital Markets, SCP Resource Finance LP, Canaccord Genuity Corp., National Bank Financial Inc., Paradigm Capital Inc., Roth Canada, Inc., ATB Cormark Capital Markets, Beacon Securities Limited, CIBC Capital Markets, Desjardins Capital Markets and Stifel Canada each received $1,967,418, $1,722,297, $245,121, $245,121, $245,121, $245,121, $98,048, $98,048, $98,048, $98,048 and $98,048, respectively. The net proceeds from the Offering will be used by the Company to advance its 100% owned Queensway Gold Project (\"Queensway\") and for general corporate and working capital purposes. The Common Shares were offered...