New Found Gold Corp V.NFG

NFG Closes NFLD Share Purchase

[AlwaysLong683]

Looks like NFG is going to keep their options open re. any future involvement with NFLD.


Exploits Discovery Announces Closing of $8 Million Investment by Eric Sprott and New Found Gold

Vancouver, British Columbia - TheNewswire - May 14, 2021

Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE:NFLD) (OTC:NFLDF) (FSE:634-FF) (CNSX:NFLDF.CN) announces that, further to its news release of May 12, 2021, it has closed its non-brokered private placement with Mr. Eric Sprott and New Found Gold Corp. (TSXV: NFG) (“New Found”) raising $8,000,000 by the issuance of 13,333,334 units (the “Units”) at a price of $0.60 per Unit (the “Private Placement”).  Each Unit consists of one common share (“Common Share”) and one common share purchase warrant (“Warrant”). Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.70 for a period of 24 months expiring May 14, 2023. The securities are subject to a four month hold period expiring September 15, 2021. The proceeds from the Private Placement will be used for exploration on the Company’s properties, the acquisition of additional properties, marketing, and general working capital.

New Found acquired 6,666,667 Units under the Private Placement for total consideration of $4,000,000. Prior to the Financing, New Found beneficially owned and controlled 6,562,799 Common Shares.   As a result of the Private Placement, New Found beneficially owns and controls 13,229,466 Common Shares of the Company and 6,666,667 Warrants representing approximately 13.6% of the issued and outstanding Common Shares of the Company on a non-diluted basis and approximately 19.2% on a fully diluted basis assuming exercise of the Warrants.  

The Units were acquired by New Found for investment purposes. New Found has a long-term view of the investment and may acquire additional securities of the Company including on the open market or through private acquisitions or sell securities of the Company including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other factors that New Found considers relevant from time to time.  

A copy of New Found’s early warning report will appear on New Found’s profile on SEDAR and may also be obtained by calling New Found’s office at [phone] 800 West Pender Street Suite 1430 Vancouver, BC V6C 2V61).
 
 

[megacopper]

  Many people can't understand why NFG, Palisades, Eric Sprott and Quinton Hennigh (Novo) are investing so heavily in the juniors surrounding this monster high grade gold discovery. I hear comments like if NFG got so much gold on their property why are they wasting money on these other guys when they should just concentrate on what they have. Well first off these guys are the best at

[likeike]

Being this is not their first rodeo why wait to get bucked off again? Could we consider with their vast knowledge of how to find orogenic gold systems and prove them up why not become the next Newmont or Barrick. In this kinda play they will want their expertise so why work for the man when you can be the man. Not everything in life has to be a sellout why not build an empire of your own

[megacopper]

  I like the way you think ike. NFG is building an empire. Whether they decide to sell out to the highest bidder or develop the Queensway property on their own I honestly don't know for sure. But I can tell you based on what I know the valuation will be much much higher. Will the share price go lower before it goes higher? It's possible but it will only dip down for a nano second

[oldfx1]

This post has been removed in accordance with Community Policy

[BlindBoy]

I also believe that they have that bigger goal in mind, (i.e., that this has potential to possibly form the basis for building an empire). I personally think that this is a rational path to follow, if the drilling continues to return overwhelming positive results in proving up a top notch resource. If American Barrick had accepted being taken over by a major after they discovered Goldstrike, they

[megacopper]

  I like the way you think BlindBoy. I too think that the NFG boys want to build an empire and I hope that is the way they go. Why sell out for 3 or 4 billion when you can put this thing in production and hopefully find tens of millions of high grade ounces and have NFG end up with a 30 to 40 billion market cap in 5 years time. Don't laugh because it can happen. The Keats Zone can be

[GreekGoldGuy]

The Greek likes to go on riders. He prefers to ride shotgun or even sit on the hood, but with NFG he doesn't care if he is being dragged behind the truck with a rope.  Owning NFG is a No-brainer.  The Greek here, just looking forward to eating some New Foundland Steak with a side of Cod tongue. 

[ronreagan]

Careful Megacopper, you're gonna get youself cross-ways with the resident "TA" expert, who suggests that fundamentals are IRRELEVANT; that it's the "flow of capital" indicated at close that is the "reality". Oh, and don't forget, he says Tx/HH intentionally gave people bad advice a few years back, and he himself has been the ONLY one who has been right all

[Lemmy1]

Yes, thanks for any advice and information guys. I am new to the mining sector and all the geology that goes along with it. I hope we have a good stock, company and project for NL.