New Found Gold completes $20 million Sprott financing – Resource World Magazine

New Found Gold completes $20 million Sprott financing – Resource World Magazine

New Found Gold Corp. [NFG-TSXV] said it has closed a $20 million investment by Bay Street resource financier Eric Sprott. The company said the non-brokered private placement consisted of 12.3 million shares, which Sprott acquired through an Ontario numbered company. As a results of the private placement, Sprott now controls 56.2 million common shares, representing 23.1% on a non-diluted basis. That’s up from 19.0% prior to the private placement.