Novo Resources repays, retires $40 million Sprott credit facility

By Wendy Van Sickle

Columbus, Ohio, Aug. 12 – Novo Resources Corp. said it fully repaid and retired its $40 million credit facility with Sprott Resource Lending Corp., according to a news release.

The repayment came after completion of the sale of the company’s New Found Gold Corp. investment and leaves the company free of long-term borrowings, with an unaudited consolidated cash balance of C$76.6 million.

No early repayment penalties were paid.

The gold exploration company is based in Vancouver, B.C.

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