On September 5, 2025, New Found Gold Corp. (TSXV: NFG, NYSE-A: NFGC) has entered into a definitive agreement to acquire all outstanding shares of Maritime Resources Corp. (TSXV: MAE) that it does not already own, in a transaction valued at approximately $292 million. The all-share deal, structured as a plan of arrangement, will see Maritime shareholders receive 0.75 New Found Gold shares for each Maritime share, representing a 32% premium based on Maritime’s 20-day VWAP and a 56% premium to its July 30, 2025 closing price. Upon completion, New Found Gold and Maritime shareholders will own approximately 69% and 31% of the combined entity, respectively. The transaction will create a multi-asset, near-term gold producer in Newfoundland, leveraging synergies between New Found Gold’s Queensway project and Maritime’s Hammerdown project. Hammerdown is expected to reach full production in early 2026, with cash flow supporting Queensway’s planned 2027 production start. The deal is subject to Maritime shareholder, court, and regulatory approvals, with closing anticipated in Q4 2025.

BMO Capital Markets and Blake, Cassels & Graydon LLP advised New Found Gold, while SCP Resource Finance, Canaccord Genuity Corp., Osler, Hoskin & Harcourt LLP, and Paradigm Capital Inc. advised Maritime.

The arrangement agreement includes a C$13 million termination fee and customary deal protections. Both boards unanimously support the transaction, which is expected to deliver significant operational and financial benefits to stakeholders.