10:48 AM EDT, 06/12/2025 (MT Newswires) -- New Found Gold ( NFGC ) , up 4% at last look, on Thursday said it has closed the second and final tranche of its bought-deal financing, raising $21.4 million. The second tranche consisted of 9.345 million charity flow-through shares, including the exercise in full of the over-allotment option.

Mining magnate Eric Sprott participated in the second tranche of the offering to maintain his 19% stake, a statement noted.

The offering involved 24.61 million charity flow-through shares at a price of C$2.29 each, and0 included the exercise, in full, of the underwriters' over-allotment option of 3.21 million charity flow-through common shares, and 4.37 million common shares at a price of C$1.63 each, for aggregate gross proceeds of C$63.48 million.

New Found Gold ( NFGC ) was last seen up $0.09, to $2.08, on the TSX Venture Exchange.

Price: 2.07, Change: +0.08, Percent Change: +4.02