VANCOUVER, British Columbia–(BUSINESS WIRE)–New Found Gold Corp. (“New Found” or the “Company”) (TSXV: NFG, NYSE American: NFGC) is pleased to announce that it has completed its previously announced non-brokered private placement of 5,000,000 common shares of the Company that qualify as “flow-through shares” for the purposes of the Income Tax Act (Canada) (the “FT Shares”) at a price of $9.60 per FT Share (the “Financing”), for gross proceeds to New Found of $48,000,000. The FT Shares have a