On April 27, 2026, New Found Gold Corp. closed its previously announced "bought deal" public offering of 38,870,000 common shares at a price of C$2.96 per share, including the full exercise of the underwriters' over-allotment option for 5,070,000 common shares, for aggregate gross proceeds of approximately C$115,055,200. The offering was upsized from the C$100 million transaction first announced on April 20, 2026, with the inclusion of the over-allotment. The offering was completed pursuant to an underwriting agreement dated April 22, 2026, among the company and a syndicate of underwriters co-led by BMO Capital Markets and SCP Resource Finance LP, and including Canaccord Genuity Corp., National Bank Financial Inc., Paradigm Capital Inc., Roth Canada, Inc., ATB Cormark Capital Markets, Beacon Securities Limited, CIBC Capital Markets, Desjardins Capital Markets, and Stifel Canada. EdgePoint Investment Group Inc. and cornerstone investor Eric Sprott both participated with co-lead orders; Sprott maintained his approximately 19 percent shareholding in the company. The common shares were offered in all of the provinces and territories of Canada other than Quebec and Nunavut by way of a prospectus supplement to the company's short form base shelf prospectus dated May 23, 2025, and were also offered in the United States by way of a U.S. prospectus supplement forming part of the company's registration statement on Form F-10. The company paid aggregate cash underwriting fees of C$5,160,441, representing 5.25 percent of gross proceeds of the offering other than gross proceeds raised from certain sales pursuant to a president's list, and 1.0 percent of gross proceeds raised from president's list sales. Net proceeds will be used principally to fund the initial capital expenditures required to advance the company's flagship Queensway Gold Project to Phase I production in Newfoundland and Labrador, alongside general corporate and working capital purposes. The bought deal was completed concurrently with the company's announcement of a C$105 million senior secured credit facility with EdgePoint Investment Group, the combination of which forms a comprehensive C$205 million finance package for Queensway Phase I development; the first C$70 million tranche of the credit facility was funded on May 19, 2026.