Dundee closes sale of 24.48M New Found Gold units

Executive Summary

• Dundee Corp. closed the sale of 24.48 million New Found Gold Corp. units, generating gross proceeds of $97.92 million.
• Each unit includes one common share and half a warrant; full exercise of all warrants would increase total proceeds to $159.12 million.
• The transaction was executed through block trades in Canada and private placements in the U.S. and offshore jurisdictions, with statutory hold periods expiring on 2026‑04‑17.

Key Details

• Units sold: 24.48 million units of New Found Gold Corp.
• Gross proceeds to Dundee: $97.92 million (based on Dec 8 2025 press release).
• Potential total gross proceeds if all warrants exercised: $159.12 million.
• Unit composition: 1 common share of New Found + ½ warrant per unit.
• Warrant terms: Right to purchase one additional New Found common share at an exercise price of $5; term of 12 months.
• Sale mechanics (Canada): Block trades for the shares on Dec 8 2025; warrants sold via private placement.
• Sale mechanics (U.S./offshore): Both shares and warrants sold through private placements in compliance with applicable securities laws.
• Statutory hold period: Warrants subject to a hold period expiring April 17, 2026; warrant‑derived shares not subject to a Canadian hold period.
• Intermediaries: BMO Capital Markets Inc. and SCP Resource Finance LP acted as placement agents.
• Regulatory disclosure: Reference made to the Dec 8 2025 press release for NI 62‑103 (Early Warning System) reporting requirements.

Notable Quotes

(No executive quotes were provided in the release.)