Core Viewpoint - New Found Gold Corp. has successfully closed the second and final tranche of its public offering, raising a total of C$63,480,000 through the sale of charity flow-through common shares and common shares, aimed at funding exploration activities at its Queensway Gold Project [1][2][6]. Offering Details - The second tranche included 24,610,000 charity flow-through common shares priced at C$2.29 each and 4,370,000 common shares priced at C$1.63 each, with gross proceeds of C$63,480,000 [1][2]. - The second tranche raised C$21,400,050 from the sale of 9,345,000 charity flow-through common shares, including the full exercise of the over-allotment option [2]. Underwriting and Fees - The offering was conducted under an underwriting agreement with a syndicate led by BMO Capital Markets and included several other firms [3]. - The company paid a total cash fee of C$526,413.75 to the underwriters, which is 5.25% of the gross proceeds from the second tranche, excluding certain sales [5]. Use of Proceeds - Proceeds from the offering will be allocated to eligible Canadian exploration expenses related to the Queensway Gold Project, with all qualifying expenditures to be renounced in favor of the subscribers by December 31, 2025 [6]. Regulatory Approvals - The offering is subject to receiving all necessary regulatory approvals, including final approval from the TSX Venture Exchange for the listing of the shares [4]. Company Background - New Found Gold holds a 100% interest in the Queensway Gold Project located in Newfoundland and Labrador, which is recognized for its excellent infrastructure and skilled workforce [10]. - The company has completed an initial mineral resource estimate at Queensway and is currently conducting a preliminary economic assessment [10]. - Recent drilling has indicated new discoveries, highlighting the project's district-scale potential [11].

Core Viewpoint - New Found Gold Corp. has successfully closed the first tranche of its public offering, raising a total of C$56,129,100 through the issuance of charity flow-through common shares and common shares, with plans for a second tranche to follow [1][2][4]. Group 1: Offering Details - The first tranche includes 15,265,000 charity flow-through common shares and 4,370,000 common shares, generating gross proceeds of C$42,079,950 [2]. - The charity flow-through common shares were priced at C$2.29 each, while the common shares were priced at C$1.63 each [1]. - The second tranche is expected to consist of 6,135,000 charity flow-through common shares, aiming for additional gross proceeds of C$14,049,150, with a closing date anticipated around June 12, 2025 [4]. Group 2: Underwriting and Fees - The offering was conducted under an underwriting agreement with a syndicate led by BMO Capital Markets and SCP Resource Finance LP, among others [3]. - The company paid the underwriters a cash fee totaling C$2,075,959, which is 5.25% of the gross proceeds from the first tranche, excluding certain sales [7]. Group 3: Use of Proceeds - Proceeds from the charity flow-through common shares will be allocated to eligible Canadian exploration expenses related to the Queensway Gold Project, with all qualifying expenditures to be renounced in favor of the subscribers by December 31, 2025 [8]. - Net proceeds from the common shares will be utilized to advance the Queensway Project and for general corporate purposes [9]. Group 4: Company Background - New Found Gold holds a 100% interest in the Queensway Gold Project, located in Newfoundland and Labrador, which is recognized for its excellent infrastructure and skilled workforce [13]. - The company has completed an initial mineral resource estimate at Queensway and is currently conducting a fully funded preliminary economic assessment, expected to be completed by late Q2 2025 [13][14].

Core Viewpoint - New Found Gold Corp. has successfully sold non-convertible senior secured notes of Maritime Resources Corp. for gross proceeds of US$2,000,000, which will enhance the company's treasury without diluting shareholders [1][2]. Financial Summary - The sale of the notes generated approximately CAD$2,778,000 in gross proceeds [1]. - The company had previously invested US$1,960,000 (CAD$2,638,500) in the notes, which were issued at a 2.0% original issue discount [2]. - New Found Gold has received approximately CAD$500,000 in interest income from the notes [2]. Warrant Details - The issuance of the notes included a 40% warrant coverage, resulting in the company receiving 15,324,571 warrants [3]. - Each warrant is exercisable into one common share of Maritime at a price of $0.07 per share until August 14, 2025, with an option for Maritime to extend the expiry until August 14, 2026 [3]. Project Development - New Found Gold holds a 100% interest in the Queensway Gold Project, located in Newfoundland and Labrador, which is recognized for its excellent infrastructure and skilled workforce [4]. - The company has completed an initial mineral resource estimate for the Queensway project and is currently conducting a fully funded preliminary economic assessment, expected to be completed by Q2/25 [4]. Exploration Potential - Recent drilling at the Queensway project has led to new discoveries, indicating significant district-scale potential across the 175,600-hectare area [5]. - The project covers a 110 km strike extent along two prospective fault zones, highlighting its exploration upside [5]. Management and Shareholder Base - New Found Gold has a new management team focused on growth and value creation at the Queensway project [5]. - The company has a solid shareholder base, including a 19% holding by Eric Sprott [5].

VANCOUVER, BC, March 3, 2025 /PRNewswire/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (NYSE-A: NFGC) is pleased to announce the appointment of Chad Williams to its board of directors (the "Board"). Effective immediately, Mr. Williams will replace Collin Kettell, Founder of New Found, who is stepping off the Board.Mr. Williams is the Chairman and Founder of Red Cloud Mining Capital Inc. He has extensive experience in mining finance and management, having previously held the positions of ...