On June 12, 2025, New Found Gold Corp. announced the closing of the second and final tranche of its previously disclosed bought deal public offering. The full offering included 24,610,000 charity flow-through common shares and 4,370,000 common shares for aggregate gross proceeds of $63,480,000. The second tranche comprised 9,345,000 charity flow-through common shares, generating $21,400,050, and included the full exercise of the underwriters’ over-allotment option of 3,210,000 shares.

The offering was conducted under an underwriting agreement dated May 29, 2025, between the company and a syndicate of underwriters. Proceeds will be used to fund qualifying exploration expenditures at New Found Gold’s 100 percent owned Queensway Gold Project in Newfoundland and Labrador. Investor Eric Sprott participated to maintain his approximate 19 percent equity stake.