New Found Gold To Raise $50 Million Via Flow Through Bought Deal Financing

New Found Gold (TSXV: NFG) last night after the bell announced that it will be conducting a significant bought deal financing. The financing will see the company raise a total of $50.0 million via a flow through financing.

Lead by the Canaccord Genuity and BMO, the financing will see the company sell a total of 4.39 million flow through common shares. Shares are to be sold at a price of $11.39 per each, with no warrant offered with the financing.

A 30-day over allotment option has been granted in connection with the financing, which could potentially see an additional 15% of shares sold under the offering.

Funds from the financing, as per flow-through rules, will be used for Canadian exploration expenses, at both the firms flagship Queensway project in Newfoundland, as well as its Lucky Strike project in Ontario. Funds are to be used for exploration purposes before December 31, 2022.

The financing follows the recent news that the firm has been cleared to list on the New York Stock Exchange, which is expected to occur in the third quarter of 2021.

New Found Gold last traded at $10.11 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.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Steadright To Conduct Multi-Phased Exploration At Historic Goundafa Polymetallic Mine

Goliath Resources Drills 10.72 g/t Gold Over 7.83 Metres At Surebet

Related News

New Found Gold Doubles Queensway Drill Program To 400,000 Metres

New Found Gold (TSXV: NFG) is evidently putting that fresh capital that was infused by...

Monday, October 25, 2021, 07:52:59 AM

New Found Gold Disappoints With Just 2.0 Million Ounces In Initial Resource Estimate

New Found Gold (TSXV: NFG) has released it’s much anticipated initial mineral resource estimate for...

Tuesday, March 25, 2025, 08:04:46 AM

Can The Nickel Squeeze Happen To Gold? – The Daily Dive

Returning to the Daily Dive for a second time today is Collin Kettell, the founder...

Wednesday, March 16, 2022, 01:30:00 PM

New Found Gold Completes Quality Control Review, No Issues Found

The results are in for New Found Gold’s (TSXV: NFG) review of its quality assurance...

Wednesday, February 23, 2022, 08:00:54 AM

Exploits Strikes A Deal With New Found Gold – The Daily Dive feat Michael Collins of Exploits Discovery Corp

Joining us for the final episode of The Daily Dive in this short holiday week,...

Wednesday, December 23, 2020, 01:30:00 PM