NewOrigin Gold (TSE:NEWO) has released an update.
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NewOrigin Gold Corp. has completed a non-brokered private placement by issuing a CDN$250,000 convertible debenture to Harfang Exploration Inc., which is expected to help NewOrigin settle its current financial obligations and facilitate a proposed acquisition of NewOrigin by Harfang. The convertible debenture bears an 11.7% annual interest and can be converted into NewOrigin shares until January 2025. This strategic financial move is subject to regulatory approval and is aligned with NewOrigin’s focus on gold project exploration in the Canadian Shield.
For further insights into TSE:NEWO stock, check out TipRanks’ Stock Analysis page.
