Sunday, June 1, 2025

Latest

Novo Resources Looks To Raise $22 Million Via Special Warrants

Novo Resources (TSX: NVO) is the latest firm to announce a financing this morning. The company is looking to raise $22.0 million via a marketed private placement led by Stifel GMP and Clarus Securities.

The financing will see the sale of special warrants at a price of $2.55 per each. Each special warrant will convert into one unit of the company, with each unit containing one common share and one half of a common share purchase warrant. Each warrant is valid for a period of three years following the close of the offering and contains an exercise price of $3.00 per share.

An over-allotment option has also been granted, which could see the financing expand up to 20%. The option is valid until 48 hours before the closing date of the financing.

Net proceeds from the offering are to be used for exploration of the Pilbara region in Western Australia, ramping the Beaton’s Creek gold project to production, and for general corporate working capital.

The financing is currently slated to close May 4, 2021.

Novo Resources last traded at $2.85 on the TSX.


Information for this briefing was found via Sedar and Novo Resources. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

B2GOLD Q1 Earnings: Revenue Up, Production & Cash Flow Decline

Recommended

Canadian Copper: The $172M Combined Strategy PEA

ESGold Begins Concentration Tests Ahead Of First Production

Related News

Gold Mountain Mining: On The Path To Production

Gold Mountain Mining Corp. (TSXV: GMTN) is a Vancouver-based advanced-stage junior gold exploration company that...

Saturday, July 24, 2021, 01:18:00 PM

Silver Markets, Economic Outlook, and the Fed’s Missteps with Craig Hemke

In this interview, Craig Hemke of TF Metals Report offers a wide-ranging analysis of current...

Monday, September 9, 2024, 04:00:00 PM

Maritime Resources Repurchases Half Of Hammerdown Royalty At Discount

Maritime Resources (TSXV: MAE) this morning announced that it has reduced its future operating costs...

Thursday, September 17, 2020, 08:20:29 AM

Amex Exploration: PI Financial, Canaccord Reiterate Targets Following Latest Drill Results

Canaccord Genuity reiterated their 12-month price target of C$4.25 and their speculative buy rating on...

Tuesday, January 26, 2021, 04:09:00 PM

US To Impose Sanctions On Russia’s Lower House, Block Gold-Related Transactions With Central Bank

The US is pushing up the ante on its sanctions against Russia related to the...

Thursday, March 24, 2022, 03:47:00 PM