New Found Gold Corp. (“New Found”) which is listed on the Toronto TSX Venture Exchange, will issue 4.4. million flow-through common shares at a price of US$11.39 per share (the “Shares”). The funds from the share issue will be used to fund the exploration at New Found’s Queensway gold project in Newfoundland as well as at its Lucky Strike project which is located in Ontario. The Shares will be bought by Canaccord Genuity Corp. and BMO Capital Markets on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase on a “bought deal” basis, the Shares of the Company. In addition, the underwriters have an option for a period of 30 days following the closing in respect of the purchase of the Shares, to purchase up to an additional 15% of the number of flow-through shares sold under the offering to cover over-allotments (if any).

Source: https://newfoundgold.ca/news/new-found-announces-50-million-bought-deal-financing/

https://www.northernminer.com/fast-news/new-found-gold-to-raise-50m-for-exploration-at-queensway-lucky-strike/1003833697/