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.
Sponsored · McLaren Resources Inc.
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?