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New Found Gold royalty purchase agreements
2021-11-18 19:14 ET - Property Agreement
The TSX Venture Exchange has accepted for filing documentation pertaining to three royalty purchase agreements dated Nov. 9, 2021, between New Found Gold Corp. and three arm's-length parties, whereby the company has agreed to acquire 100 per cent of each vendor's royalty interest under a net smelter royalty agreement dated July 15, 2016, in respect to the company's Linear and JBP Linear properties, located near Gander in Newfoundland, Canada.
Under the terms of the agreements and as consideration for the royalty interests, the Company will pay $1,300,000 cash consideration and issue 152,941 common shares to each Vendor, for aggregate cash consideration of $3,900,000 and aggregate share consideration of 458,823 common shares.
For further details, please refer to the Company's news release dated November 15, 2021.