---
title: "New Found Gold draws CAD 70 million from EdgePoint secured credit facility"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286899275.md"
description: "New Found Gold has drawn CAD 70 million from a CAD 105 million senior secured credit facility with EdgePoint Investment Group. The funding, subject to a 2% original issue discount, will support the Queensway Phase 1 development, aiming for first production in late 2027. EdgePoint received 2,489,818 non-transferable warrants valued at USD 6 million. An additional CAD 35 million tranche is available within 12 months, pending further conditions."
datetime: "2026-05-19T10:59:16.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286899275.md)
  - [en](https://longbridge.com/en/news/286899275.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286899275.md)
---

# New Found Gold draws CAD 70 million from EdgePoint secured credit facility

-   New Found Gold drew CAD 70 million under a previously announced CAD 105 million senior secured credit facility with EdgePoint Investment Group. \* The tranche was funded following delivery of the security package, with the advance subject to a 2% original issue discount. \* EdgePoint received 2,489,818 non-transferable warrants valued at USD 6 million, exercisable at CAD 3.3 per share until May 15, 2029. \* The company expects the funding to support Queensway Phase 1 development and construction, targeting first production in late 2027. \* An additional CAD 35 million tranche remains at the company’s discretion within 12 months, subject to further conditions including TSXV and NYSE American clearances. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. New Found Gold Corp. published the original content used to generate this news brief via Newsfile (Ref. ID: 202605190658NEWSFILECNPR\_\_\_\_20260519\_297893\_1) on May 19, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)

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