New Found Gold (TSXV: NFG) is looking to raise further funds. The company this morning announced that it will be conducting a flow-through private placement to raise gross proceeds of $15.0 million, with the financing being taken down in entirety by Eric Sprott.
The flow through financing will see a total of 2.9 million shares issued connection with the offering, all of which are to be purchased by Sprott. Shares are to be sold at a price of $5.25 per each, with the shares being subjected to a four month hold period.
Proceeds from the financing are to be used to fund exploration expenses for the firms properties, with no further details being provided.
New Found Gold last traded at $4.56 on the TSX Venture.
Information for this briefing was found via Sedar and New Found Gold. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
One Response
great, what’s next?