-- New Found Gold (NFG.V) closed its previously announced "bought deal" public offering for aggregate gross proceeds of $115.1 million, including the exercise, in full, of the underwriters' over-allotment option, the company said Monday.
The offering involved the offering of near 38.9-million common shares at $2.96 apiece, including the over-allotment option of 5,070,000 common shares, it added.
Both EdgePoint Investment Group Inc. and billionaire businessman Eric Sprott participated in the offering with co-lead orders, the company said, adding Sprott maintained his approximate 19% shareholdings.
Proceeds will be used to advance its 100% owned Queensway Gold project and for general corporate and working capital needs, it said.
Shares of the company were last seen down 1.8% at $2.77 on the TSX Venture Exchange.
Price: $2.78, Change: $-0.04, Percent Change: -1.42%