Core Viewpoint - New Found Gold Corp. has entered into a definitive agreement to acquire Maritime Resources Corp., creating a multi-asset near-term gold producer in a tier 1 jurisdiction with significant operational synergies [1][2][3] Transaction Overview - New Found Gold will acquire all outstanding common shares of Maritime not already owned, with an exchange ratio of 0.75 New Found Gold shares for each Maritime share, implying a 32% premium based on the 20-day VWAP [1][4][13] - The implied equity value of the transaction is approximately $292 million on a fully-diluted basis [4] Strategic Rationale - The acquisition positions New Found Gold as an emerging gold producer, with production expected to commence in 2027 from the Queensway Gold Project and in early 2026 from the Hammerdown Gold Project [2][3][11] - Significant operational synergies are anticipated through existing infrastructure, including the Pine Cove Mill and Nugget Pond Hydrometallurgical Gold Plant, which will support the development of Queensway [2][11] Benefits to Shareholders - Maritime shareholders will receive immediate and significant premiums, with a 32% premium based on the 20-day VWAP and a 56% premium to the closing price prior to the letter of intent [4][11] - The transaction allows Maritime shareholders to retain exposure to Hammerdown while gaining access to New Found Gold's high-grade Queensway project [11][19] Production and Financial Metrics - Hammerdown is expected to ramp up to full production in early 2026, with annual production of 50,000 ounces at an all-in sustaining cost (AISC) of US$912 per ounce [9][11] - The combined entity is projected to generate significant cash flow, with Hammerdown's cash flow expected to fund a material portion of the capital expenditures for Queensway [11][17] Board and Advisor Recommendations - The Maritime Board unanimously approved the transaction, stating it is in the best interests of Maritime shareholders [19][20] - Financial advisors for both companies have provided fairness opinions regarding the transaction [22][23] Closing Conditions - The transaction is subject to approval by Maritime shareholders and customary closing conditions, with completion expected in the fourth quarter of 2025 [15][19]