New Found Gold Corp V.NFG

NFG's Lucky Strike Property Sold in Ontario

[Kewl002]

Warrior Gold Signs Agreement to Acquire New Found Gold's Lucky Strike Property Consolidating the Largest Land Package in the Kirkland Lake Gold Camp

https://www.newswire.ca/news-releases/warrior-gold-signs-agreement-to-acquire-new-found-gold-s-lucky-strike-property-consolidating-the-largest-land-package-in-the-kirkland-lake-gold-camp-826931351.html

[Retiredgeo]

Warrior is currently trading at $0.045 CAD.  The ~28 million Warrior shares that NFG will receive will be worth ~1.3 million CAD in stock.  Unless NFG can find a buyer for them their real value will be close to zero. I consider the lucky strike property to be surplus baggage so good riddance either way.

[catf7rider]

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

[Reality888]

Super more Garbage...NFG shares are not reading the BS Snidely is Pumping!! = REALITY

[Retiredgeo]

I stand corrected.  The 28 million shares is post consolidation or 112 million shares at today's price.  That equates to ~5 million CAD. One way or another those shares are going to become worthless.  If I receive them I will not be keeping them.

[AlwaysLong683]

IMO, here are the key excerpts from the press release: Warrior Gold plans to consolidate the outstanding Warrior Gold Shares on the basis of one post-consolidation Warrior Gold Share for each four Warrior Gold Shares as constituted immediately before the consolidation...and change its name to “Kirkland Lake Discoveries Inc.”. Following the completion of the Transaction and subject to

[Flyder]

From Stockwatch today: Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG) added three cents to $4.53 on 165,000 shares. The company, a busy beaver in Newfoundland for the past three years, is rolling its Lucky Strike gold project in Ontario into a soon-to-be remodelled Warrior Gold Inc. (WAR: $0.045). Warrior's president and chief executive officer