New Found Gold Corp V.NFG

C$56 Million Bought Deal Financing V.NFG

[Betteryear2]

VANCOUVER, British Columbia, Oct. 30, 2023 (GLOBE NEWSWIRE) -- New Found Gold Corp. (TSXV:NFG | NYSE-A: NFGC) (“New Found” or the “Company”) has announced today that it has entered into an agreement with BMO Capital Markets, on behalf of itself and a syndicate of underwriters (collectively, the “Underwriters”) led by BMO Capital Markets and Canaccord Genuity Corp., under which the Underwriters have agreed to buy, on a bought deal basis, 7,725,000 charity flow-through common shares of the Company (the “Charity Flow-Through Common Shares”) at a price of C$7.25 per Charity Flow-Through Common Share for aggregate gross proceeds of approximately C$56 million (the “Offering”). The Company has granted the underwriters an option, exercisable at the offering price up to 30 days following the closing of the Offering, to purchase up to an additional 15% of the Charity Flow-Through Common Shares issued in connection with the Offering. Each Charity Flow-Through Common Share will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada).


New Found Gold Corp. Announces C$56 Million Bought Deal (globenewswire.com)