New Found Gold to Acquire Mineral Claims in Newfoundland and Labrador
MT Newswires Live
Sep 08
New Found Gold (NFGC) said Monday that it has entered into an agreement to acquire a 100% interest in certain mineral claims in Newfoundland and Labrador from Exploits Discovery.
The claims adjoin New Found's Queensway gold project and will increase the project's size by up to 33%, the company said. The transaction is expected to close in Q4.
New Found Gold will issue about 2.8 million of its common shares to Exploits, grant a 1% net smelter returns royalty and potentially issue a further 725,543 shares with respect to certain disputed mineral claims.
The company's shares were up more than 7% in recent Monday premarket activity.
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