NFGC - New Found Gold jumps after Sprott raises stake

New Found Gold (NYSE:NFGC) surged as much as 10% on Tuesday after Eric Sprott agreed to buy 15M common shares of the company, raising his ownership stake to 31.4% of the outstanding shares of New Found Gold from 22.3% previosuly. The shares were bought by way of private agreement with a single vendor at a price, including commissions, of less than 115% of the "market price" of the shares. Sprott said he has a long-term view of the investment and may acquire additional securities of New Found Gold on the open market or through private acquisitions.

For further details see:

New Found Gold jumps after Sprott raises stake