ASX IPO Offer Period Opens
10 August 2023 - 2:40PM
Novo Resources Corp. (“Novo” or the “Company”)
(TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to
provide an update in relation to the Company’s planned ASX listing
and IPO.
The Company lodged a Prospectus with ASIC on
August 2, 20231 outlining the terms of the Offering. The Offering
is now open and is expected to close on September 1, 20233. The
Offering will not be made in Canada or to a resident of Canada.
Argonaut PCF is acting as financial adviser and
Argonaut Securities Pty Ltd is acting as broker to the IPO.
Novo intends to use its existing cash reserves
combined with funds raised from the Offering to fund further
exploration, heritage and environmental support expenditure
activities at key gold exploration areas with a focus on the
Company’s Egina Gold Camp Project (including commencement of
drilling at its Nunyerry North project), the Balla Balla project,
the Belltopper project, and for Pilbara-wide reconnaissance on
newly developed targets, as well as for general working capital and
to fund existing corporate commitments. Refer to the Company’s
Prospectus which is available at www.novoresources.com and on the
Company’s SEDAR+ profile at www.sedarplus.ca for further details of
the Company’s objectives4. The Offering is conditional on Novo
raising its minimum subscription (A$4.0 million, before costs) and
ASX approving the Company’s application for admission to the
official list of the ASX1. Applications by Australian residents for
CDIs must be made using an application form which accompanies, and
is made in accordance with, a complete version of the
Prospectus.
ABOUT NOVO
Novo explores and develops its prospective land
package covering approximately 10,500 square kilometres in the
Pilbara region of Western Australia, along with the 22 square
kilometre Belltopper project in the Bendigo Tectonic Zone of
Victoria, Australia. In addition to the Company’s primary focus,
Novo seeks to leverage its internal geological expertise to deliver
value-accretive opportunities to its stakeholders.
CONTACT
Investors:Mike Spreadborough +61 419 329 987
mike.spreadborough@novoresources.com |
North American Queries:Leo Karabelas+1 416 543
3120leo@novoresources.com |
Media:Cameron Gilenko+61 466 984
953cgilenko@citadelmagnus.com |
|
On Behalf of the Board of Directors,
Novo Resources Corp.“Michael
Spreadborough”Michael SpreadboroughExecutive Co-Chairman and Acting
CEO
FORWARD-LOOKING INFORMATION
Some statements in this news release contain
forward-looking information (within the meaning of Canadian
securities legislation) including, without limitation, the terms
and timing of the IPO, and that IPO funds are expected to support
the Company’s exploration strategy. These statements address future
events and conditions and, as such, involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the statements. Such factors include, without
limitation, customary risks of the resource industry and the risk
factors identified in Novo’s annual information form for the year
ended December 31, 2022, which is available under Novo’s profile on
SEDAR+ at www.sedarplus.ca. Forward-looking statements speak only
as of the date those statements are made. Except as required by
applicable law, Novo assumes no obligation to update or to publicly
announce the results of any change to any forward-looking statement
contained or incorporated by reference herein to reflect actual
results, future events or developments, changes in assumptions or
changes in other factors affecting the forward-looking statements.
If Novo updates any forward-looking statement(s), no inference
should be drawn that the Company will make additional updates with
respect to those or other forward-looking statements.
FOOTNOTES
1 Refer to the Company’s news
releases (including the release dated August 2, 2023). There is no
guarantee that the Company will list on ASX or be granted approval
to do so.
2 The Offering is subject to a
minimum subscription of A$4 million (being 20 million CDIs) and is
not underwritten.
3 These dates are indicative
only and may change without notice.
4 Jurisdictional and other
restrictions may apply.
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