VANCOUVER, BC, Aug. 27, 2021 /CNW/ - New Found Gold
Corp. ("New Found" or the "Company") (TSXV:
NFG) (OTC: NFGFF) is pleased to announce that its common shares are
now eligible for electronic clearing and settlement through the
Depository Trust Company ("DTC") in the United States.
DTC is a subsidiary of the Depository Trust & Clearing
Corporation, a U.S. company that manages the electronic clearing
and settlement of publicly traded companies. Securities that are
eligible to be electronically cleared and settled through DTC are
considered to be "DTC eligible". DTC eligibility is expected to
simplify the process of trading and enhance liquidity of the
Company's common shares in the United
States.
With DTC eligibility, existing investors benefit from
potentially greater liquidity and execution speeds. This also
opens the door to new investors that may have been previously
restricted from our common shares and simplifies the process of
trading our common shares in the United
States.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project,
located 15km west of Gander,
Newfoundland, and just 18km from Gander International Airport. The project is
intersected by the Trans-Canada Highway and has logging roads
crosscutting the project, high voltage electric power lines running
through the project area, and easy access to a highly skilled
workforce. The Company is currently undertaking a 200,000m drill program at Queensway. Nine
rigs are currently in operation at Queensway with the drill count
planned to increase to ten rigs by Q3 2021. With a current working
capital balance of approximately $118-million, New Found is well funded for this
program.
Please see the Company's website at www.newfoundgold.ca and the
Company's SEDAR profile at www.sedar.com.
Contact
To contact the Company, please visit the Company's website,
www.newfoundgold.ca and make your request through our investor
inquiry form. Our management has a pledge to be in touch with any
investor inquiries within 24 hours.
New Found Gold Corp.
Per: "Craig Roberts"
Craig Roberts, P.Eng., Chief
Executive Officer
Email: croberts@newfoundgold.ca
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward Looking Statement Cautions
This press release contains certain "forward-looking statements"
within the meaning of Canadian securities legislation relating to
future benefits provided to shareholders, including with respect to
future improvements to liquidity and execution speeds;
opportunities for new investors that may have been previously
restricted from our common shares; and the simplification of the
process of trading of our common shares in the United
States. Although the Company believes that such statements are
reasonable, it can give no assurance that such expectations will
prove to be correct. Forward-looking statements are statements that
are not historical facts; they are generally, but not always,
identified by the words "expects," "plans," "anticipates,"
"believes," "intends," "estimates," "projects," "aims," "target,"
"suggestive," "probability," "appear," "pursuit," "potential,"
"goal," "objective," "prospective," and similar expressions, or
that events or conditions "will," "would," "may," "can," "could" or
"should" occur, or are those statements, which, by their nature,
refer to future events. The Company cautions that forward-looking
statements are based on the beliefs, estimates and opinions of the
Company's management on the date the statements are made, and they
involve a number of risks and uncertainties. Consequently, there
can be no assurances that such statements will prove to be accurate
and actual results and future events could differ materially from
those anticipated in such statements. Except to the extent required
by applicable securities laws and the policies of the TSX Venture
Exchange, the Company undertakes no obligation to update these
forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change. Factors that could cause
future results to differ materially from those anticipated in these
forward-looking statements include risks associated with possible
accidents and other risks associated with mineral exploration
operations, the risk that the Company will encounter unanticipated
geological factors, the possibility that the Company may not be
able to secure permitting and other governmental clearances
necessary to carry out the Company's exploration plans, the risk
that the Company will not be able to raise sufficient funds to
carry out its business plans, and the risk of political
uncertainties and regulatory or legal changes that might interfere
with the Company's business and prospects. The reader is urged to
refer to the Company's Annual Information Form and Management's
discussion and Analysis, publicly available through the Canadian
Securities Administrators' System for Electronic Document Analysis
and Retrieval (SEDAR) at www.sedar.com for a more complete
discussion of such risk factors and their potential effects.
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SOURCE New Found Gold Corp.