New Found Gold Has Entered Into $3.75M Settlement Agreement Concerning The Lawsuit Filed By ThreeD Capital And 1313366 Ontario In The Ontario Superior Court Of Justice, The Lawsuit Was Scheduled For Trial In January 2025
Portfolio Pulse from Benzinga Newsdesk
New Found Gold has entered into a $3.75M settlement agreement concerning a lawsuit filed by ThreeD Capital and 1313366 Ontario. The settlement involves the transfer and issuance of New Found Shares, subject to TSXV and NYSE American approval.
June 06, 2024 | 10:13 am
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New Found Gold has settled a $3.75M lawsuit with ThreeD Capital and 1313366 Ontario, involving the transfer and issuance of shares. This settlement is subject to approval by TSXV and NYSE American.
The settlement resolves a significant legal issue for New Found Gold, which could have otherwise led to prolonged litigation. The transfer and issuance of shares are subject to regulatory approval, which adds a layer of uncertainty. However, the resolution of the lawsuit is a positive step for the company.
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