08:31 AM EDT, 04/20/2026 (MT Newswires) -- New Found Gold (NFG.V) was at last look up 1.6% in US Premarket trade Monday after announcing a $205 million finance package made up of a $100 million bought deal shares financing with lead orders from EdgePoint Investment Group and cornerstone investor Eric Sprott and a $105 million senior secured credit facility with EdgePoint.

In a statement it said proceeds will be used to advance the Queensway gold project in Newfoundland.

The company will issue 33.8 million shares at $2.96 each, to raise $100 million. The underwriters have also been granted a 15% over-allotment option.

New Found Gold has also sealed a deal with EdgePoint for a secured credit facility of up to $105 million. The funds will be advanced in two tranches: $70 million and $35 million. Both tranches will be released when certain conditions are met.

In return, New Found Gold will issue non-transferable share purchase warrants to EdgePoint totalling US$9 million: US$6 million worth of warrants will be issued on Tranche 1, which will be exercisable for 2.5 million shares at $3.30 each. The Tranche 2 warrants, totalling US$3 million will be exercisable for shares at a price equal to a 25% premium to the closing price of the shares on the TSX Venture immediately before the Tranche 2 funding date.

New Found Gold says the $205 million funding package covers the initial capital expenditures required to bring its flagship Queensway Gold Project-Phase I into production. It added that it will not proceed with the US$75 million secured loan facility and warrants issue with Nebari Natural Resources Credit Fund II, announced in early March.

New Found Gold closed up $0.09 or 3.1% to $2.96, on the TSX Venture Exchange on Friday.