Dundee Corporation Announces Closing of Sale of New Found Gold Corp. Units

Executive Summary

• Dundee Corporation completed the sale of 24,480,000 units of New Found Gold Corp., generating gross proceeds of C$97.92 million.
• Each unit includes one common share and half a warrant; full exercise of all warrants would increase total proceeds to C$159.12 million.
• The transaction was executed through block trades (unit shares) and private placements (warrants), with a statutory hold period on the warrants expiring April 17, 2026.

Key Details

• Units sold: 24,480,000 units of New Found Gold Corp.
• Gross proceeds to Dundee: C$97,920,000.
• Unit composition: 1 common share of New Found + 0.5 common share purchase warrant per unit.
• Warrant terms: Exercise price C$5.00 per share; term of 12 months; each whole warrant grants one additional common share (Warrant Share).
• Potential total proceeds if all warrants exercised: C$159,120,000.
• Sale mechanics:
• Unit shares sold via block trades in Canada on December 8, 2025.
• Warrants sold on a private‑placement basis in Canada; both unit shares and warrants sold privately in the U.S. and offshore jurisdictions.
• Statutory hold period: Applies to warrants; expires April 17, 2026. No hold period for warrant shares under Canadian law.
• Placement agents: BMO Capital Markets Inc. and SCP Resource Finance LP.
• Regulatory notes: Securities not registered under the U.S. Securities Act; sales complied with applicable exemptions.

Notable Quotes

(No executive quotes were included in the release.)