New Found Gold and Sprott Buy 14 Million Shares New Found Gold and Eric Sprott purchased 14 million shares of Labrador. This is good for Labrador shareholders on the road to consolidation.
TORONTO, April 19, 2021 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that it has closed a non-brokered private placement of 14 million flow through units (the “FT units”) at a price of $0.70 per FT unit (the “Flow-Through Offering”) for gross proceeds to LabGold of $9.8 million. New Found Gold Corp. (as to 7 million FT units) and Mr. Eric Sprott (as to 7 million FT units) purchased the FT units through a donation arrangement. Each FT Unit consists of one flow through common share and one half a non-flow through share purchase warrant, with each full warrant exercisable to acquire a Common Share at $0.75 until April 16, 2023.