By Devika Patel
Knoxville, Tenn., March 5 - NovaGold Resources Inc. priced a non-brokered registered direct offering of stock for $100 million.
The company will sell 18,181,818 common shares at $5.50 per share to funds managed by Paulson & Co. Inc.
Settlement is expected March 9.
Proceeds will be used to fund general exploration and development on the company's advanced properties, including Donlin Creek, Galore Creek and Rock Creek, its early stage Ambler property and for general corporate purposes, including funding potential future acquisitions.
NovaGold is a precious metals exploration and development company based in Vancouver, B.C.
| Issuer: | NovaGold Resources Inc.
|
| Issue: | Common shares
|
| Amount: | $100 million
|
| Shares: | 18,181,818
|
| Price: | $5.50
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Paulson & Co. Inc.
|
| Pricing date: | March 5
|
| Settlement date: | March 9
|
| Stock symbol: | Toronto: NG
|
| Stock price: | C$6.56 at close March 5
|
| Market capitalization: | C$1.24 billion
|
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