Labrador Gold Sells Kingsway Project to NFG

Labrador Gold (TSE:LAB) has released an update.

Labrador Gold Corp. has signed a definitive agreement to sell its Kingsway Project to New Found Gold Corp. for $20 million CAD, paid in NFG Common Shares, with a four-month resale restriction. The sale is endorsed by LabGold’s board and is pending shareholder approval, with the transaction expected to finalize in Q3 2023. The agreement also includes a no-shop clause and a termination fee of $500,000 if LabGold accepts a better offer.

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