This means the full over-subscription limit has been reached following overwhelming support, with significant demand coming from sophisticated and institutional investors across
The offer opened on Thursday,
A listing on ASX is the logical next step in the Company's Australian growth plans, given historical local investor appetite for new mining discoveries with exploration upside. An ASX listing would provide an opportunity to enhance Novo's profile across a broader mix of investors, increase liquidity and attract additional equity research coverage.
Argonaut PCF is acting as financial adviser and
Novo recently entered into a major earn-in and joint venture agreement with leading Western Australian gold developer,
Novo Executive Co-Chairman and Acting CEO
'To close our offer ahead of schedule is a major achievement and one the team is very proud of. We have received a positive response and overwhelming demand for the IPO.
'It has been a busy few months with De Grey becoming our JV partner at Becher and a cornerstone investor, which is a substantial endorsement of what we have been working on at Novo.
'We are ready to keep building on the momentum with a significant exploration program scheduled for the remainder of the year as we focus on identifying and defining deposits with significant development potential and thank all of Novo's supporters in making the IPO process to date an outstanding success.'
ABOUT NOVO
Novo explores and develops its prospective land package covering approximately 10,500 square kilometres in the Pilbara region of
Contact:
Tel: +61 419 329 987
Email: mike.spreadborough@novoresources.com
FORWARD-LOOKING INFORMATION
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the anticipated completion of the ASX IPO and the planned significant exploration program scheduled for the remainder of the year. 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, receipt of ASX approval to the Company's application for admission, customary risks of the resource industry and the risk factors identified in Novo's annual information form for the year ended
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