New Found Gold to acquire Maritime Resources for $211m

New Found Gold has announced a final agreement to obtain marine resources and the formation of an emerging Canadian gold product.

The estimated value of the treatment in terms of shares is about $ 292 million (211.1 million dollars), taking into account all the fully reduced money and shares options.

The deal, structured as a plan for the arrangement, will witness the new gold that has been found on all the distinctive joint stocks in Maritime that you already do not have.

The integration process for the creation of multi -asset gold products has been set throughout the term in the jurisdiction of the judicial level, which benefits from a large regional synergy in the governor of the two companies.

According to the terms of the arrangement agreement, the marine shareholders will receive 0.75 from a new joint gold share for each marine share at the time of the treatment.

With the presence of new gold that is currently found about 0.1 % of marine stocks, post -transitional ownership will be about 69 % for new gold shareholders and 31 % for marine shareholders.

The New Found Gold’s Queensway Gold Project and the Maritime’s Hammerdown Gold project, both of which are located in the center of Newfoundland, Canada, are essential in this strategic unification.

The Queensway project, which obtained a positive initial economic evaluation (PEA) in July 2025, is going on the right path to start the first phase in 2027. The hammerdown project, which is 180 km northwest of Queensway, aims to reach full production by early 2026.

The joint entity is expected to benefit from the joint infrastructure such as Pine Cove Mill and Nugget Pond Hydrometallurgical Gold, with the expected cash flow from Hammerdown to support the development of Queensway.

The new CEO of CEO and Golden Director Keith Boyle said:

“The synergy obtained through this mixture removes Quinzway, which allows access to the grinding and cash flow facility in the near term to support the first stage of development, which puts the way to start production in 2027.”

The deal is expected to be completed, according to the approval of the court and voting by marine shareholders and options holders, in the fourth quarter of 2025.

The marine shares are scheduled to be removed from the TSX Venture exchange after closing the transaction.

Upon completion, it is expected that the number of golden shares issued and the new spoon is 335.93 million.

“This deal provides marine shareholders a distinguished offer in the short term and a long -term opportunity to be part of a much larger Canadian gold story.