Mr. Quinton Hennigh reports
NOVO REPORTS FULL EXERCISE OF MAY 2017 SHARE PURCHASE WARRANTS, RAISING OVER $20M
Novo Resources Corp.'s 22,727,350 share purchase warrants, issued in a private placement which closed on May 4, 2017, have been exercised, raising gross proceeds of $20,454,615. Novo's current cash balance stands at approximately $50.7-million.
"The company is delighted that the exercise of the May, 2017, warrants has enabled us to replenish our cash balance," commented Rob Humphryson, Novo's chief executive officer and a director. "Achieving 100-per-cent conversion of these warrants underpins our project exploration and development plans as we continue to develop our Pilbara gold projects towards production."
About Novo Resources Corp.
Novo's focus is to explore and develop gold projects in the Pilbara region of Western Australia and Novo has built up a significant land package covering approximately 12,000 square kilometres with varying ownership interests.
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