New Found Gold Completes C$115 Million U.S. Public Offering

Paul, Weiss advised Vancouver-based mineral exploration company New Found Gold Corp. in its offering of 38,870,000 common shares, representing gross proceeds to New Found Gold of approximately C$115 million. The offering included the full exercise of the underwriters’ over-allotment option.

New Found Gold, which holds a 100% interest in the Queensway and Hammerdown gold mines in Newfoundland and Labrador, Canada, will use the proceeds to advance the Queensway project and for general corporate purposes. The underwriters were led by BMO Capital Markets and SCP Resource Finance LP.

The Paul, Weiss team included corporate partner Christopher Cummings and tax partner Matthew Jordan.