NovaGold Resources Inc TSX:NG announced that it has increased its previously announced bought-deal private placement from approximately US$250.8 million to approximately US$332.5 million. The offering consists of 35 million at US$9.50 per share. The financing will be used towards permitting and development at the company’s Donlin gold project, exploration and engineering at its Galore Creek project, exploration at its Ambler project, closure activities at its Rock Creek Mine, and for general working capital.
NovaGold is a precious metals company engaged in the exploration and development of mineral properties primarily in Alaska and BC. Its Donlin gold project in Alaska is one of the world’s largest known undeveloped gold deposits.
or Neil MacRae
Director, Investor Relations
by Ted Niles