Dundee Corp discloses 5.7% New Found Gold (NFGC) stake in 13G/A

Rhea-AI Filing Summary

Dundee Corporation has filed an amended Schedule 13G reporting beneficial ownership of 19,898,398 common shares of New Found Gold Corp., representing 5.7% of the company’s outstanding common shares as of December 16, 2025.

The position includes 12,242,569 common shares held directly and 7,655,829 additional common shares issuable within 60 days upon exercise of warrants held by Dundee. Dundee reports sole voting and dispositive power over all of these shares and certifies the holdings are not for the purpose of changing or influencing control of New Found Gold.

Insights

Equity ownership and disclosure analyst

Dundee discloses a 5.7% beneficial stake in New Found Gold.

Dundee Corporation reports beneficial ownership of 19,898,398 New Found Gold common shares, or 5.7% of the class as of December 16, 2025. This combines currently held shares with additional shares issuable from warrants.

The filing details 12,242,569 common shares held of record and 7,655,829 common shares issuable within 60 days upon warrant exercise. Dundee has sole voting and dispositive power over the entire reported amount, with no shared authority.

Dundee certifies that these securities were not acquired and are not held to change or influence control of New Found Gold Corp., but rather under the passive-ownership standard applicable to this type of filing. Future ownership updates would typically appear in later beneficial ownership reports.

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Accepted by SEC EDGAR 02/02/2026 - 06:22 PM Learn about SEC filing dates

FAQ

How many New Found Gold (NFGC) shares does Dundee Corporation beneficially own?

Dundee Corporation reports beneficial ownership of 19,898,398 common shares of New Found Gold Corp. This total combines shares already held of record with additional shares that could be issued upon the exercise of warrants within 60 days of December 16, 2025.

What percentage of New Found Gold’s outstanding shares does Dundee’s stake represent?

Dundee Corporation’s reported beneficial ownership represents 5.7% of New Found Gold’s common shares. This percentage is calculated using 338,465,937 common shares outstanding as of December 16, 2025, plus the 7,655,829 warrant shares held by Dundee that are exercisable within 60 days.

How is Dundee’s New Found Gold (NFGC) ownership split between shares and warrants?

Dundee holds 12,242,569 common shares of New Found Gold directly and has 7,655,829 additional common shares issuable upon exercise of warrants within 60 days of December 16, 2025. Both the existing shares and the warrant shares are included in the reported beneficial ownership.

Does Dundee share voting or dispositive power over its New Found Gold shares?

Dundee Corporation reports sole voting power and sole dispositive power over all 19,898,398 common shares it beneficially owns. The filing specifies zero shared voting power and zero shared dispositive power, indicating exclusive authority over voting and disposition decisions for the reported securities.

Is Dundee’s New Found Gold stake intended to influence control of the company?

Dundee certifies that its New Found Gold securities were not acquired and are not held for the purpose of changing or influencing control of the issuer. The holdings are also not held in connection with any transaction intended to have that control-changing purpose or effect.

What triggered this amended Schedule 13G filing for New Found Gold (NFGC)?

The amended Schedule 13G is tied to an event dated December 16, 2025, when Dundee’s beneficial ownership position met the reporting threshold. The amendment updates the market on Dundee’s 5.7% stake, including both common shares held and warrant shares exercisable within 60 days.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

New Found Gold Corp.

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

64440N103

(CUSIP Number)

12/16/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 64440N103

1

Names of Reporting Persons

DUNDEE CORP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 19,898,398.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 19,898,398.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

19,898,398.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.7 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: 1. The number in Rows 5, 7 and 9 includes (i) 12,242,569 Common Shares, no par value ("Common Shares"), of New Found Gold Corp. (the "Issuer") held of record by Dundee Corporation ("Dundee") and (ii) 7,655,829 Common Shares issuable, within 60 days of December 16, 2025, upon the exercise of warrants to purchase shares of Common Shares held of record by Dundee. 2. The percentage set forth in Row 13 is calculated based on 338,465,937 Common Shares of the Issuer outstanding as of December 16, 2025, plus 7,655,829 Common Shares issuable upon the exercise of warrants held of record by Dundee.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: New Found Gold Corp.
(b)	Address of issuer's principal executive offices: 20 ADELAIDE ST. E, 20 ADELAIDE ST. E, TORONTO, ONTARIO, CANADA, M5C 2T6
Item 2.
(a)	Name of person filing: Dundee Corporation
(b)	Address or principal business office or, if none, residence: 80 Richmond Street West, Suite 2000, Toronto, Ontario, Canada M5H 2A4
(c)	Citizenship: Ontario, Canada
(d)	Title of class of securities: Common Shares, no par value
(e)	CUSIP No.: 64440N103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 19,898,398 Common Shares
(b)	Percent of class: 5.7%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 19,898,398 Common Shares
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 19,898,398 Common Shares
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

DUNDEE CORP

Signature:	Mark Pereira
Name/Title:	Vice President and Corporate Secretary
Date:	02/02/2026