Eric Sprott

New Found Gold Corp. completed the second tranche of its “bought deal” offering, raising C$63.48 million. This final tranche, including the underwriters’ over-allotment option, generated C$21.4 million and involved Charity Flow-Through Common Shares and common shares. Funds will support exploration expenses at the Queensway Gold Project. Major shareholder Eric Sprott retained his stake. The offering, underwritten by firms including BMO, underscores strong investor confidence and is subject to regulatory approvals.