New Found raised C$50 million tonight in a bought deal by BMO and Canaccord Genuity. It may expanded by 15% in 30 days to cover increased demand. It priced at C$11.39 for 4.39 million shares.
"The Company is currently undertaking a 200,000m drill program at Queensway. Nine rigs are currently in operation at Queensway with the drill count planned to increase to ten rigs by Q3 2021. With a current working capital balance of approximately $68 million, New Found is well funded for this program."