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Yahoo
4 days ago
- Business
- Yahoo
New Found Gold Expands Queensway Gold Project 2025 Work Program
VANCOUVER, BC, June 16, 2025 /CNW/ - New Found Gold Corp. ("New Found Gold" or the "Company") (TSX-V: NFG) (NYSE-A: NFGC) is pleased to announce an expansion of the 2025 Work Program at the Company's 100% owned Queensway Gold Project ("Queensway" or the "Project") in Newfoundland and Labrador. Highlights: 70,000 metres ("m") diamond drill program underway; Approximately 11,750 m in 104 DDH1 has been drilled to date, with five drill rigs currently on site; 80% of planned drilling focused on resource definition and pre-development work and 20% on exploration; The AFZ Core excavation program is underway, with channel sampling of the Iceberg excavation approximately 80% complete and the Lotto excavation commencing shortly; A regional exploration program at Queensway South and Queensway North is underway and is expected to run until late September, 2025; In addition to a PEA2 planned for release in late Q2/25, the Company is conducting ongoing engineering studies, including metallurgical testwork and trade-off studies; and Additional environmental work will be undertaken in 2025 to ensure that all baseline studies are completed for upcoming permitting processes. Melissa Render, President of New Found Gold stated: "With the recent closing of our bought deal financing, the Company is well-financed to expand our 2025 work program. The primary focus remains the key deliverables to advance Queensway on the path to development. The work program will include approximately 70,000 m of drilling, along with engineering and environmental studies. Given the district-scale potential of our extensive landholdings, we will be conducting exploration drilling on high-priority targets such as Dropkick and will conduct a regional program in highly prospective and under-explored portions of both Queensway South and Queensway North." Resource Definition and Pre-development Drilling Approximately 80% of the planned 2025 drilling at Queensway will be focused on infill drilling of inferred and unclassified mineralization within the pit shells of the AFZ Core portion of the initial mineral resource estimate ("MRE"), grade control drilling at the Keats and Iceberg zones and geotechnical, hydrogeological and condemnation drilling (see the New Found Gold news release dated March 24, 2025 for additional information on the initial MRE). This work began in May 2025 and is planned to continue through December 2025. Exploration Drilling Approximately 20% of the planned 2025 drilling at Queensway will be focused on exploration, including potential expansions to the initial MRE and new discoveries. This work began in June 2025, with drilling at the Dropkick zone ("Dropkick"). Dropkick is a new high-grade gold target located 11 kilometres ("km") north of the AFZ Core and open in all directions. Drilling at Dropkick began in late 2024 and therefore was not included in the initial MRE. Highlights from 2024 drilling at Dropkick include: 42.8 g/t Au over 14.95 m in NFGC-24-22253, 89.5 g/t Au over 5.85 m in NFGC-24-2197 and 26.2 g/t Au over 16.15 m in NFGC-24-2193. For the full results from Dropkick see the New Found Gold news releases dated Feb. 11, 2025 and May 21, 2025. AFZ Core Excavation Program Excavation of the shallow overburden covering the near-surface portion of key zones in AFZ Core began with the Keats zone, which was excavated in 2023 and mapped and sampled in 2024 (see the New Found Gold news release dated December 2, 2024). This work was successful in providing greater confidence in the geologic model, the grade distribution of very high-grade veins and the structural controls on mineralization in this zone. The Iceberg zone was excavated over a 220 m by 105 m area in late 2024. The Iceberg zone excavation has exposed broad zones of gold-bearing quartz veins directly below 2.5 to 9 m of overburden. This excavation has been successfully dewatered and channel sampling focused on the key mineralized domains within the excavated area at 7.5 m intervals is approximately 80% complete. Following the completion of the infill drilling at the Lotto zone, overburden will be excavated to expose the gold-bearing quartz veins. Excavation of the Lotto zone is expected to be completed in Q4/25 and channel sampling is planned for Q2/26. The Company continues to evaluate the size and location of a bulk sample for the Project within the mineralized zones exposed in the AFZ Core Excavation Program. Regional Exploration Program The Company has commenced a regional exploration program at Queensway South and Queensway North. This work will focus on the northern and southern extensions of the Appleton and JBP Fault Zones and follow-up on high-priority targets generated by earlier regional programs. Work will include soil and rock sampling, trenching, a 156 square kilometre magnetic survey and a quaternary geological study. Engineering Studies On November 6, 2024, the Company announced it had engaged SLR Consulting (Canada) Ltd ("SLR") to deliver an initial MRE and PEA. The MRE was announced on March 24, 2025, and a PEA is ongoing with a target completion date of late Q2/25. This is an important milestone for the Project as it will provide preliminary project economics in addition to defining the work programs that will allow the Company to advance the Project. Mine design and planning, metallurgical processing and economic optimizations will be conducted by SLR to complete the PEA. Additional engineering studies include: Metallurgical testing programs are ongoing, with additional work to further refine the flowsheet for the next phase of studies in 2026; Condemnation drilling for siting of plant infrastructure, geotechnical and hydrogeological data collection programs are commencing, and required as inputs for the next phase of studies in 2026; and Additional trade-off studies to optimize the Project are planned for completion in Q3/25. Environmental Studies The Company will be undertaking additional environmental studies in 2025 as part of its commitment to the Project. Since 2021, New Found Gold has been collecting baseline environmental data to develop a comprehensive multi-year dataset. Environmental studies in 2025 have been designed to ensure that all baseline studies are conducted for upcoming permitting processes. About New Found Gold New Found Gold holds a 100% interest in Queensway, located in Newfoundland and Labrador, a Tier 1 jurisdiction with excellent infrastructure and a skilled local workforce. The Company has completed an initial MRE at Queensway (see New Found Gold news release dated March 24, 2025). A fully funded PEA is underway, with completion scheduled for late Q2/25. Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential of the 175,600 hectare project that covers a 110 km strike extent along two prospective fault zones. New Found Gold is a well-funded advanced exploration company focused on growth and value creation at Queensway. The Company has a new management team and a solid shareholder base, including an approximately 19% holding by Eric Sprott. Please see the Company's website at and the Company's SEDAR+ profile at Keith BoyleChief Executive OfficerNew Found Gold Corp. Follow us on social media athttps:// Qualified Person The scientific and technical information disclosed in this press release was reviewed and approved by Melissa Render, P. Geo., President, and a Qualified Person as defined under National Instrument 43-101. Ms. Render consents to the publication of this press release, by New Found Gold. Ms. Render certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release. Acknowledgements New Found Gold acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statement Cautions This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to the expansion of the Company's 2025 work program; engineering and environmental studies and various programs expected to be completed by the Company, including the timing thereof; the AFZ Core Excavation Program and the timing thereof; planned drilling and exploration on the Project and the timing and expected benefits thereof; the initial resource estimate; the preliminary economic assessment and the expected funding, timing and benefits thereof; the advancement of the Project towards development; the interpretation of drilling and assay results, the extent of mineralization and the discovery of zones of high-grade gold mineralization; plans for future exploration and drilling and the focus and timing of same; the merits of the Queensway Project; future press releases by the Company; and funding of the Company. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "interpreted", "intends", "estimates", "projects", "aims", "suggests", "indicate", "often", "target", "future", "likely", "encouraging", "pending", "potential", "goal", "focus", "objective", "opportunity", "prospective", "possibly", "preliminary", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the Company's ability to complete the preliminary economic assessment, the results and timing of the preliminary economic assessment, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration, drilling and assay results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at for a more complete discussion of such risk factors and their potential effects.________________________________1 DDH = diamond drill holes2 PEA = preliminary economic assessment3 Note that the host structures are interpreted to be moderately to steeply dipping and true widths are generally estimated to be 55% to 85% in NFGC-24-2197, 40% to 70% in NFGC-24-2225 and 25% to 55% NFGC-24-2193. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 4m consecutive dilution when above 200m vertical depth and 2m consecutive dilution when below 200m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness. View original content to download multimedia: SOURCE New Found Gold Corp. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
4 days ago
- Business
- Cision Canada
New Found Gold Expands Queensway Gold Project 2025 Work Program
VANCOUVER, BC, June 16, 2025 /CNW/ - New Found Gold Corp. (" New Found Gold" or the " Company") (TSX-V: NFG) (NYSE-A: NFGC) is pleased to announce an expansion of the 2025 Work Program at the Company's 100% owned Queensway Gold Project (" Queensway" or the " Project") in Newfoundland and Labrador. Highlights: 70,000 metres (" m") diamond drill program underway; Approximately 11,750 m in 104 DDH 1 has been drilled to date, with five drill rigs currently on site; 80% of planned drilling focused on resource definition and pre-development work and 20% on exploration; The AFZ Core excavation program is underway, with channel sampling of the Iceberg excavation approximately 80% complete and the Lotto excavation commencing shortly; A regional exploration program at Queensway South and Queensway North is underway and is expected to run until late September, 2025; In addition to a PEA 2 planned for release in late Q2/25, the Company is conducting ongoing engineering studies, including metallurgical testwork and trade-off studies; and Additional environmental work will be undertaken in 2025 to ensure that all baseline studies are completed for upcoming permitting processes. Melissa Render, President of New Found Gold stated:"With the recent closing of our bought deal financing, the Company is well-financed to expand our 2025 work program. The primary focus remains the key deliverables to advance Queensway on the path to development. The work program will include approximately 70,000 m of drilling, along with engineering and environmental studies. Given the district-scale potential of our extensive landholdings, we will be conducting exploration drilling on high-priority targets such as Dropkick and will conduct a regional program in highly prospective and under-explored portions of both Queensway South and Queensway North." Resource Definition and Pre-development Drilling Approximately 80% of the planned 2025 drilling at Queensway will be focused on infill drilling of inferred and unclassified mineralization within the pit shells of the AFZ Core portion of the initial mineral resource estimate (" MRE"), grade control drilling at the Keats and Iceberg zones and geotechnical, hydrogeological and condemnation drilling (see the New Found Gold news release dated March 24, 2025 for additional information on the initial MRE). This work began in May 2025 and is planned to continue through December 2025. Exploration Drilling Approximately 20% of the planned 2025 drilling at Queensway will be focused on exploration, including potential expansions to the initial MRE and new discoveries. This work began in June 2025, with drilling at the Dropkick zone (" Dropkick"). Dropkick is a new high-grade gold target located 11 kilometres (" km") north of the AFZ Core and open in all directions. Drilling at Dropkick began in late 2024 and therefore was not included in the initial MRE. Highlights from 2024 drilling at Dropkick include: 42.8 g/t Au over 14.95 m in NFGC-24-2225 3, 89.5 g/t Au over 5.85 m in NFGC-24-2197 and 26.2 g/t Au over 16.15 m in NFGC-24-2193. For the full results from Dropkick see the New Found Gold news releases dated Feb. 11, 2025 and May 21, 2025. AFZ Core Excavation Program Excavation of the shallow overburden covering the near-surface portion of key zones in AFZ Core began with the Keats zone, which was excavated in 2023 and mapped and sampled in 2024 (see the New Found Gold news release dated December 2, 2024). This work was successful in providing greater confidence in the geologic model, the grade distribution of very high-grade veins and the structural controls on mineralization in this zone. The Iceberg zone was excavated over a 220 m by 105 m area in late 2024. The Iceberg zone excavation has exposed broad zones of gold-bearing quartz veins directly below 2.5 to 9 m of overburden. This excavation has been successfully dewatered and channel sampling focused on the key mineralized domains within the excavated area at 7.5 m intervals is approximately 80% complete. Following the completion of the infill drilling at the Lotto zone, overburden will be excavated to expose the gold-bearing quartz veins. Excavation of the Lotto zone is expected to be completed in Q4/25 and channel sampling is planned for Q2/26. The Company continues to evaluate the size and location of a bulk sample for the Project within the mineralized zones exposed in the AFZ Core Excavation Program. Regional Exploration Program The Company has commenced a regional exploration program at Queensway South and Queensway North. This work will focus on the northern and southern extensions of the Appleton and JBP Fault Zones and follow-up on high-priority targets generated by earlier regional programs. Work will include soil and rock sampling, trenching, a 156 square kilometre magnetic survey and a quaternary geological study. Engineering Studies On November 6, 2024, the Company announced it had engaged SLR Consulting (Canada) Ltd (" SLR") to deliver an initial MRE and PEA. The MRE was announced on March 24, 2025, and a PEA is ongoing with a target completion date of late Q2/25. This is an important milestone for the Project as it will provide preliminary project economics in addition to defining the work programs that will allow the Company to advance the Project. Mine design and planning, metallurgical processing and economic optimizations will be conducted by SLR to complete the PEA. Additional engineering studies include: Metallurgical testing programs are ongoing, with additional work to further refine the flowsheet for the next phase of studies in 2026; Condemnation drilling for siting of plant infrastructure, geotechnical and hydrogeological data collection programs are commencing, and required as inputs for the next phase of studies in 2026; and Additional trade-off studies to optimize the Project are planned for completion in Q3/25. Environmental Studies The Company will be undertaking additional environmental studies in 2025 as part of its commitment to the Project. Since 2021, New Found Gold has been collecting baseline environmental data to develop a comprehensive multi-year dataset. Environmental studies in 2025 have been designed to ensure that all baseline studies are conducted for upcoming permitting processes. About New Found Gold New Found Gold holds a 100% interest in Queensway, located in Newfoundland and Labrador, a Tier 1 jurisdiction with excellent infrastructure and a skilled local workforce. The Company has completed an initial MRE at Queensway (see New Found Gold news release dated March 24, 2025). A fully funded PEA is underway, with completion scheduled for late Q2/25. Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential of the 175,600 hectare project that covers a 110 km strike extent along two prospective fault zones. New Found Gold is a well-funded advanced exploration company focused on growth and value creation at Queensway. The Company has a new management team and a solid shareholder base, including an approximately 19% holding by Eric Sprott. Please see the Company's website at and the Company's SEDAR+ profile at Keith Boyle Chief Executive Officer New Found Gold Corp. Follow us on social media at Qualified Person The scientific and technical information disclosed in this press release was reviewed and approved by Melissa Render, P. Geo., President, and a Qualified Person as defined under National Instrument 43-101. Ms. Render consents to the publication of this press release, by New Found Gold. Ms. Render certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release. Acknowledgements New Found Gold acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statement Cautions This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to the expansion of the Company's 2025 work program; engineering and environmental studies and various programs expected to be completed by the Company, including the timing thereof; the AFZ Core Excavation Program and the timing thereof; planned drilling and exploration on the Project and the timing and expected benefits thereof; the initial resource estimate; the preliminary economic assessment and the expected funding, timing and benefits thereof; the advancement of the Project towards development; the interpretation of drilling and assay results, the extent of mineralization and the discovery of zones of high-grade gold mineralization; plans for future exploration and drilling and the focus and timing of same; the merits of the Queensway Project; future press releases by the Company; and funding of the Company. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "interpreted", "intends", "estimates", "projects", "aims", "suggests", "indicate", "often", "target", "future", "likely", "encouraging", "pending", "potential", "goal", "focus", "objective", "opportunity", "prospective", "possibly", "preliminary", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the Company's ability to complete the preliminary economic assessment, the results and timing of the preliminary economic assessment, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration, drilling and assay results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at for a more complete discussion of such risk factors and their potential effects. ________________________________ 1 DDH = diamond drill holes 2 PEA = preliminary economic assessment 3 Note that the host structures are interpreted to be moderately to steeply dipping and true widths are generally estimated to be 55% to 85% in NFGC-24-2197, 40% to 70% in NFGC-24-2225 and 25% to 55% NFGC-24-2193. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 4m consecutive dilution when above 200m vertical depth and 2m consecutive dilution when below 200m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness. SOURCE New Found Gold Corp.
Yahoo
12-06-2025
- Business
- Yahoo
New Found Gold Closes Second Tranche of C$63 Million Bought Deal Financing Including Full Exercise of Underwriters' Over-Allotment Option
VANCOUVER, BC, June 12, 2025 /CNW/ - New Found Gold Corp. (TSXV: NFG) (NYSE-A: NFGC) ("New Found Gold" or the "Company") is pleased to announce that it has closed the second and final tranche of its previously announced "bought deal" public offering of (i) 24,610,000 charity flow-through common shares of the Company (the "Charity Flow-Through Common Shares") that will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) at a price of C$2.29 per Charity Flow-Through Common Share (the "Charity Flow-Through Common Share Offering Price"), including the exercise, in full, of the Underwriters' (as defined below) over-allotment option (the "Over-Allotment Option") of 3,210,000 Charity Flow-Through Common Shares, and (ii) 4,370,000 common shares (the "Common Shares") at a price of C$1.63 per Common Share, for aggregate gross proceeds of C$63,480,000 (the "Offering"). The second tranche of the Offering consists of 9,345,000 Charity Flow-Through Common Shares, including the exercise in full of the Over-Allotment Option, for gross proceeds of C$21,400,050. The second tranche of the Offering was completed pursuant to an underwriting agreement dated May 29, 2025 (the "Underwriting Agreement"), entered into among the Company and a syndicate of underwriters led by BMO Capital Markets and SCP Resource Finance LP and including Paradigm Capital Inc., Canaccord Genuity Corp., Haywood Securities Inc., Stifel Nicolaus Canada Inc., Roth Canada, Inc., A.G.P. Canada Investments ULC and ATB Securities Inc. (collectively, the "Underwriters"). Mr. Eric Sprott participated in the second tranche of the Offering to maintain his approximate 19% shareholdings. The Offering remains subject to the Company receiving all necessary regulatory approvals, including final approval of the TSX Venture Exchange (the "TSXV") to list the Charity Flow-Through Common Shares and the Common Shares. In connection with the closing of the second tranche of the Offering, the Company paid to the Underwriters a cash fee in the aggregate amount of C$526,413.75, representing (i) 5.25% of the gross proceeds of the second tranche of the Offering, other than the gross proceeds raised from certain sales pursuant to a president's list (the "President's List Sales"); and (ii) 1.0% of the gross proceeds raised from President's List Sales. BMO Capital Markets, SCP Resource Finance LP, Paradigm Capital Inc., Canaccord Genuity Corp., Haywood Securities Inc., Stifel Nicolaus Canada Inc., Roth Canada, Inc., A.G.P. Canada Investments ULC and ATB Securities Inc. received C$202,669, C$176,349, C$52,641, C$28,953, C$15,792, C$15,792, C$13,160, C$10,528 and C$10,528, respectively. The gross proceeds from the offering of the Charity Flow-Through Common Shares will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) (the "Qualifying Expenditures") related to the Company's 100% owned Queensway Gold Project ("Queensway" or the "Project"), on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscribers for the Charity Flow-Through Common Shares effective on or before December 31, 2025. The Charity Flow-Through Common Shares were offered by way of a prospectus supplement in each of the Provinces and Territories of Canada (other than the Province of Quebec and Nunavut) and were also offered by way of a U.S. prospectus supplement forming part of the Company's registration statement on Form F-10 in the United States. Copies of the prospectus supplement and documents incorporated by reference therein are available electronically on the Canadian Securities Administrators' System for Electronic Data Analysis and Retrieval+ ("SEDAR+") ( and the SEC's Electronic Data Gathering and Retrieval System ("EDGAR") ( under New Found Gold's issuer profile. Certain directors and officers of the Company participated, directly or indirectly, in the Offering and, due to his shareholdings, Mr. Sprott is considered a "related party" of New Found Gold. Accordingly, their participation in the Offering constitutes "a related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Shareholder Approval ("MI 61-101"). The Company has relied on the exemptions from valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such related party participation. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About New Found Gold New Found Gold holds a 100% interest in Queensway, located in Newfoundland and Labrador, a Tier 1 jurisdiction with excellent infrastructure and a skilled local workforce. The Company has completed an initial mineral resource estimate at Queensway (see New Found Gold news release dated March 24, 2025). A fully funded preliminary economic assessment is underway, with completion scheduled for late Q2/25. Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential of the 175,600 hectare project that covers a 110 km strike extent along two prospective fault zones. New Found Gold has a new management team in place, a solid shareholder base, which includes a 19% holding by Eric Sprott, and is focused on growth and value creation at Queensway. Please see the Company's SEDAR+ profile at and the Company's EDGAR profile at Keith Boyle Chief Executive Officer New Found Gold Corp. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Information This press release contains certain "forward-looking statements" within the meaning of Canadian and U.S. securities legislation (including the Private Securities Litigation Reform Act of 1995), including statements relating to the use of proceeds of the Offering, the tax treatment of the Charity Flow-Through Common Shares, the receipt of all necessary regulatory approvals in connection with the Offering and, statements related to Queensway and the Company's planned and future exploration at Queensway. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "suggests", "potential", "goal", "objective", "prospective", "preliminary," "possibly", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSXV or the NYSE American LLC, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks related to: the tax treatment of the Charity Flow-Through Common Shares, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form, Management's Discussion and Analysis and other reports and documents filed by the Company with applicable securities regulatory authorities from time to time, publicly available through the SEDAR+ at or through the EDGAR at for a more complete discussion of such risk factors and their potential effects. View original content to download multimedia: SOURCE New Found Gold Corp. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
12-06-2025
- Business
- Cision Canada
New Found Gold Closes Second Tranche of C$63 Million Bought Deal Financing Including Full Exercise of Underwriters' Over-Allotment Option Français
VANCOUVER, BC, June 12, 2025 /CNW/ - New Found Gold Corp. (TSXV: NFG) (NYSE-A: NFGC) (" New Found Gold" or the " Company") is pleased to announce that it has closed the second and final tranche of its previously announced "bought deal" public offering of (i) 24,610,000 charity flow-through common shares of the Company (the " Charity Flow-Through Common Shares") that will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) at a price of C$2.29 per Charity Flow-Through Common Share (the " Charity Flow-Through Common Share Offering Price"), including the exercise, in full, of the Underwriters' (as defined below) over-allotment option (the " Over-Allotment Option") of 3,210,000 Charity Flow-Through Common Shares, and (ii) 4,370,000 common shares (the " Common Shares") at a price of C$1.63 per Common Share, for aggregate gross proceeds of C$63,480,000 (the " Offering"). The second tranche of the Offering consists of 9,345,000 Charity Flow-Through Common Shares, including the exercise in full of the Over-Allotment Option, for gross proceeds of C$21,400,050. The second tranche of the Offering was completed pursuant to an underwriting agreement dated May 29, 2025 (the " Underwriting Agreement"), entered into among the Company and a syndicate of underwriters led by BMO Capital Markets and SCP Resource Finance LP and including Paradigm Capital Inc., Canaccord Genuity Corp., Haywood Securities Inc., Stifel Nicolaus Canada Inc., Roth Canada, Inc., A.G.P. Canada Investments ULC and ATB Securities Inc. (collectively, the " Underwriters"). Mr. Eric Sprott participated in the second tranche of the Offering to maintain his approximate 19% shareholdings. The Offering remains subject to the Company receiving all necessary regulatory approvals, including final approval of the TSX Venture Exchange (the " TSXV") to list the Charity Flow-Through Common Shares and the Common Shares. In connection with the closing of the second tranche of the Offering, the Company paid to the Underwriters a cash fee in the aggregate amount of C$526,413.75, representing (i) 5.25% of the gross proceeds of the second tranche of the Offering, other than the gross proceeds raised from certain sales pursuant to a president's list (the " President's List Sales"); and (ii) 1.0% of the gross proceeds raised from President's List Sales. BMO Capital Markets, SCP Resource Finance LP, Paradigm Capital Inc., Canaccord Genuity Corp., Haywood Securities Inc., Stifel Nicolaus Canada Inc., Roth Canada, Inc., A.G.P. Canada Investments ULC and ATB Securities Inc. received C$202,669, C$176,349, C$52,641, C$28,953, C$15,792, C$15,792, C$13,160, C$10,528 and C$10,528, respectively. The gross proceeds from the offering of the Charity Flow-Through Common Shares will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) (the " Qualifying Expenditures") related to the Company's 100% owned Queensway Gold Project (" Queensway" or the " Project"), on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscribers for the Charity Flow-Through Common Shares effective on or before December 31, 2025. The Charity Flow-Through Common Shares were offered by way of a prospectus supplement in each of the Provinces and Territories of Canada (other than the Province of Quebec and Nunavut) and were also offered by way of a U.S. prospectus supplement forming part of the Company's registration statement on Form F-10 in the United States. Copies of the prospectus supplement and documents incorporated by reference therein are available electronically on the Canadian Securities Administrators' System for Electronic Data Analysis and Retrieval+ (" SEDAR+") ( and the SEC's Electronic Data Gathering and Retrieval System (" EDGAR") ( under New Found Gold's issuer profile. Certain directors and officers of the Company participated, directly or indirectly, in the Offering and, due to his shareholdings, Mr. Sprott is considered a "related party" of New Found Gold. Accordingly, their participation in the Offering constitutes "a related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Shareholder Approval (" MI 61-101"). The Company has relied on the exemptions from valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such related party participation. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About New Found Gold New Found Gold holds a 100% interest in Queensway, located in Newfoundland and Labrador, a Tier 1 jurisdiction with excellent infrastructure and a skilled local workforce. The Company has completed an initial mineral resource estimate at Queensway (see New Found Gold news release dated March 24, 2025). A fully funded preliminary economic assessment is underway, with completion scheduled for late Q2/25. Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential of the 175,600 hectare project that covers a 110 km strike extent along two prospective fault zones. New Found Gold has a new management team in place, a solid shareholder base, which includes a 19% holding by Eric Sprott, and is focused on growth and value creation at Queensway. Please see the Company's SEDAR+ profile at and the Company's EDGAR profile at Keith Boyle Chief Executive Officer New Found Gold Corp. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Information This press release contains certain "forward-looking statements" within the meaning of Canadian and U.S. securities legislation (including the Private Securities Litigation Reform Act of 1995), including statements relating to the use of proceeds of the Offering, the tax treatment of the Charity Flow-Through Common Shares, the receipt of all necessary regulatory approvals in connection with the Offering and, statements related to Queensway and the Company's planned and future exploration at Queensway. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "suggests", "potential", "goal", "objective", "prospective", "preliminary," "possibly", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSXV or the NYSE American LLC, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks related to: the tax treatment of the Charity Flow-Through Common Shares, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form, Management's Discussion and Analysis and other reports and documents filed by the Company with applicable securities regulatory authorities from time to time, publicly available through the SEDAR+ at or through the EDGAR at for a more complete discussion of such risk factors and their potential effects. SOURCE New Found Gold Corp.
Yahoo
10-06-2025
- Business
- Yahoo
OS Therapies Partners with EVERSANA for the U.S. Commercialization of OST-HER2 in Recurrent, Fully Resected, Pediatric Lung Metastatic Osteosarcoma
NEW YORK and CHICAGO, June 10, 2025 /PRNewswire/ -- OS Therapies Inc. (NYSE-A: OSTX) ("OS Therapies" or "the Company"), a clinical-stage cancer immunotherapy and antibody drug conjugate biotechnology company, has selected EVERSANA®, a leading provider of global commercial services to the life sciences industry, to support the U.S. commercialization of OST-HER2, a novel immunotherapy for recurrent, fully resected, pediatric lung metastatic osteosarcoma. OST-HER2, a Listeria monocytogenes-based immunotherapy, is the first potential new treatment in over 40 years for pediatric osteosarcoma, a rare, aggressive bone cancer that often metastasizes to the lungs, primarily affecting children and adolescents. The therapy has received Orphan, Fast Track and Rare Pediatric Disease Designations from the U.S. Food and Drug Administration (FDA), with a Biologics License Application (BLA) rolling submission targeted to begin in the third quarter of 2025, with potential approval coming as early as year end 2025. "Working with EVERSANA ensures we have the infrastructure, expertise and agility to bring OST-HER2 to patients and families who have long awaited new options without the need to spend significant capital building our own commercial infrastructure," said Paul Romness, CEO of OS Therapies. "By leveraging EVERSANA's flexible integrated commercialization operations and deep oncology experience, we will be able to rapidly and cost-effectively fulfill our mission of transforming the treatment landscape for pediatric metastatic osteosarcoma while judiciously managing pre-BLA costs." EVERSANA will activate its dedicated end-to-end EVERSANA ONCOLOGY Commercialization model, including market access, medical affairs, field deployment, patient services and stakeholder engagement. The fully integrated platform accelerates awareness and access to OST-HER2 among healthcare providers treating osteosarcoma, as well as the potential to treat additional HER2-positive cancers. "We share OS Therapies' relentless commitment to helping patients facing the devastating diagnosis of cancer," said Jim Lang, CEO at EVERSANA. "We've activated the full scale of our commercialization operation and global team of oncology experts to bring this much-needed innovation to market. This product is just the beginning of OS Therapies' impact for patients around the world." The announcement follows OS Therapies' recent issuance of U.S. Patent #12,239,738, securing commercial manufacturing exclusivity for OST-HER2 and its broader Listeria-based immunotherapy platform through 2040. About EVERSANA EVERSANA® is a leading independent provider of global services to the life sciences industry. The company's integrated solutions are rooted in the patient experience and span all stages of the product life cycle to deliver long-term, sustainable value for patients, prescribers, channel partners and payers. The company serves more than 650 organizations, including innovative start-ups and established pharmaceutical companies, to advance life sciences solutions for a healthier world. To learn more about EVERSANA, visit or connect through LinkedIn and X. About OS TherapiesOS Therapies is a clinical stage oncology company focused on the identification, development, and commercialization of treatments for osteosarcoma and other solid tumors. OST-HER2, the Company's lead asset, is an immunotherapy leveraging the immune-stimulatory effects of Listeria bacteria to initiate a strong immune response targeting the HER2 protein. OST-HER2 has received Rare Pediatric Disease Designation (RPDD) from the US Food & Drug Administration and Fast-Track and Orphan Drug designations from the US FDA and European Medicines Agency. The Company has demonstrated positive data in its Phase 2b clinical trial of OST-HER2 in recurrent, fully resected, lung metastatic osteosarcoma demonstrating statistically significant benefit in the 12-month event free survival (EFS) primary endpoint of the study. The Company anticipates submitting a BLA to the US FDA for OST-HER2 in osteosarcoma in 2025 and, if approved, would become eligible to receive a Priority Review Voucher that it could then sell. OST-HER2 has completed a Phase 1 clinical study primarily in breast cancer patients, in addition to showing preclinical efficacy data in various models of breast cancer. OST-HER2 has been conditionally approved by the U.S. Department of Agriculture for the treatment of canines with osteosarcoma. In addition, OS Therapies is advancing its next-generation Antibody Drug Conjugate (ADC) and Drug Conjugates (DC), known as tunable ADC (tADC), which features tunable, tailored antibody-linker-payload candidates. This platform leverages the Company's proprietary silicone Si-Linker and Conditionally Active Payload (CAP) technology, enabling the delivery of multiple payloads per linker. For more information, please visit Forward-Looking StatementsStatements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute forward-looking statements within the meaning of the federal securities laws. These forward-looking statements and terms such as "anticipate," "expect," "intend," "may," "will," "should" or other comparable terms involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of OS Therapies and members of its management, as well as the assumptions on which such statements are based. OS Therapies cautions readers that forward-looking statements are based on management's expectations and assumptions as of the date of this news release and are subject to certain risks and uncertainties that could cause actual results to differ materially, including, but not limited to the approval of OST-HER2 by the US FDA and other risks and uncertainties described in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's most recent Annual Report on Form 10-K and other subsequent documents the Company files with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and, except as required by the federal securities laws, OS Therapies specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Media Contacts For EVERSANAMatt BraunVice President, Corporate For OS TherapiesJack Doll+1-410-297-7793Irpr@ View original content to download multimedia: SOURCE EVERSANA Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
