- Newfoundland Discovery (NEWD) has arranged a C$1.5 million financing with a lead order from Eric Sprott
- Sprott has provided an order of $500,000 for non-flow-through units
- The company will use the proceeds for working capital and for exploration of its Newfoundland properties
- Newfoundland Discovery is a junior Canadian mining exploration company with land positions in Newfoundland and Quebec
- Newfoundland Discovery (NEWD) is up by 1.96 per cent and is currently trading at $0.52 per share
Newfoundland Discovery (NEWD) has arranged a C$1.5 million financing with a lead order from Eric Sprott.
The non-brokered financing is comprised of up to 1,000,000 flow-through units priced at $0.50 per unit and up to 2,500,000 non-flow-through units priced at $0.40 per unit.
Sprott has provided an order of $500,000 for non-flow-through units.
Each flow-through unit consists of one flow-through common share and one-half of one warrant.
Each warrant entitles the holder to purchase one non-flow-through share for $0.75 for up to one year following the closing date and for $1.00 during the second year.
Each non-flow-through unit consists of one non-flow-through common share and one-half of one warrant.
Each warrant entitles the holder to purchase one non-flow-through share for $0.60 for up to one year following the closing date and for $0.80 during the second year.
The company will use the proceeds for working capital and for exploration of its Newfoundland properties.
Newfoundland Discovery is a junior Canadian mining exploration company with land positions in Newfoundland and Quebec.
Newfoundland Discovery (NEWD) is up by 1.96 per cent and is currently trading at $0.52 per share as of 9:44 am ET.