Dundee closes sale of 24.48M New Found Gold units

Executive Summary

• Dundee Corp. has closed the previously announced sale of 24.48 million units of New Found Gold Corp. to qualified purchasers.
• The transaction generated gross proceeds of $97.92 million for Dundee, with the potential for additional proceeds if all associated warrants are exercised.
• The units were sold via block trades in Canada and private placements in the US and offshore jurisdictions, with specific warrant terms and hold periods defined.

Key Details

• Transaction Volume: Sale of 24.48 million units of New Found Gold Corp.
• Gross Proceeds: $97.92 million received by Dundee Corp.
• Potential Additional Proceeds: If all warrants are exercised, total gross proceeds to Dundee would reach $159.12 million.
• Unit Composition: Each unit consists of one common share of New Found Gold Corp. and one-half of a common share purchase warrant.
• Warrant Terms:
  • Exercise Price: $5.00 per share.
  • Entitlement: Each warrant allows the holder to acquire one additional common share of New Found Gold Corp.
  • Term: 12 months.
• Distribution Channels:
  • Canada: Block trades executed on Dec. 8, 2025.
  • United States and Offshore: Private placement basis.
• Regulatory/Hold Periods:
  • Warrants subject to statutory hold period expiring on April 17, 2026 (under applicable securities laws).
  • Warrant shares are not subject to a hold period under Canadian securities laws.
• Advisors: BMO Capital Markets Inc. and SCP Resource Finance LP.
• Regulatory Reference: Disclosure required under National Instrument 62-103 (Early Warning System) referenced in the Dec. 8, 2025 press release.