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New Found Gold Corp V.NFG

Alternate Symbol(s):  NFGC

New Found Gold Corp. is a Canada-based mineral exploration company. The Company is engaged in the acquisition, exploration, and evaluation of resource properties with a focus on gold properties located in Newfoundland and Labrador, Canada. The Company holds a 100% interest in the Queensway Project, which comprises an approximately 1,662 square kilometers area, located about 15 kilometers (km) west of Gander, Newfoundland and Labrador, and just 18 km from Gander International Airport. The Queensway Project is divided by Gander Lake into Queensway North and Queensway South. The Company also owns a 100% interest in the Kingsway property, which consists of 264 claims on three licenses covering approximately 77 square kilometers. The project is located approximately 18km northwest of the town of Gander, Newfoundland. The Company is undertaking a 650,000-meter drill program on Queensway. It has royalty interests underlying Keats South and several additional zones in Queensway.


TSXV:NFG - Post by User

Comment by catf7rideron Feb 22, 2023 1:05pm
84 Views
Post# 35298696

RE:RE:NFG's Lucky Strike Property Sold in Ontario

RE:RE:NFG's Lucky Strike Property Sold in Ontario
From CEO
 
@Snidely I think it is closer to 50%. The shares issued to NFG were on a post consolidation-basis, so it will be 26 million shares after the 1-4 reverse split. That will be diluted some, because it appears that there was also $10-20 million in financing also lined up at the same time. The good news is that it appears that all of those shares will be passed on to NFG holders, so we will all be getting Warrior Gold shares sent our way.
@Snidely I think it is closer to 50%. The shares issued to NFG were on a post consolidation-basis, so it will be 26 million shares after the 1-4 reverse split. That will be diluted some, because it appears that there was also $10-20 million in financing also lined up at the same time. The good news is that it appears that all of those shares will be passed on to NFG holders, so we will all be getting Warrior Gold shares sent our way.
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