New Found Gold Corp. ("New Found") announced on November 1, 2023, and closed on November 6, 2023, a C$56,006,250 bought deal public offering of 7,725,000 flow-through common shares at C$7.25 per share. The proceeds will fund eligible Canadian exploration expenses (CEE) at its Queensway Project in Newfoundland, with renunciation to investors by December 31, 2023.

The offering was led by BMO Nesbitt Burns Inc. and Canaccord Genuity Corp., acting as co-lead underwriters and joint book-runners, with participation from National Bank Financial Inc., Desjardins Securities Inc., Laurentian Bank Securities Inc., Paradigm Capital Inc., Eight Capital, and Roth Canada, Inc. The company granted an over-allotment option for an additional 1,158,750 shares, which, if fully exercised, would increase total proceeds to C$64,407,187.50. Legal counsel included Blake, Cassels & Graydon LLP (Canada) and Paul, Weiss, Rifkind, Wharton & Garrison LLP (U.S.) for New Found, while the underwriters were advised by Borden Ladner Gervais LLP (Canada) and Skadden, Arps, Slate, Meagher & Flom LLP (U.S.).

The shares are listed on the TSX Venture Exchange (NFG) and NYSE American (NFGC).