Newfoundland Discovery closes $833,424 financing

Executive Summary

• Newfoundland Discovery Corp. has closed a non-brokered private placement, raising total gross proceeds of $833,424.
• The company issued 6,945,200 units at $0.12 per unit, with each unit comprising one common share and one transferable share purchase warrant.
• Proceeds will be allocated toward potential asset acquisitions and general working capital, with issued units subject to a four-month-and-one-day hold period.

Key Details

• Gross proceeds: $833,424
• Units issued: 6,945,200
• Price per unit: $0.12
• Warrant terms: Each unit includes one transferable warrant entitling the holder to acquire one additional common share at an exercise price of $0.16 for a period of one year from the closing date
• Hold period: Four months and one day from the date of issuance under applicable Canadian securities laws
• Finders' fees: None paid in connection with the offering
• Use of proceeds: Potential asset acquisition opportunities and general working capital
• Insider participation: An insider subscribed for $12,000 in gross proceeds; the issuance is classified as a related party transaction under Multilateral Instrument 61-101, with exemptions relied upon from formal valuation and minority shareholder approval requirements as participation did not exceed 25% of the fair market value of the company's market capitalization
• Reference releases: April 27, 2026 and May 4, 2026