NOVO RESOURCES WELCOMES NEWMONT MINING CORP. AS A NEW SHAREHOLDER AND ANNOUNCES $4,800,000 RAISED FROM WARRANT EXERCISE
September 12 2013 - 2:03PM
OTC Markets
Novo
Resources Corp.
Suite
1980 ? 1075
West Georgia Street
Vancouver,
BC, V6E
3C9
NOVO
RESOURCES WELCOMES
NEWMONT MINING CORP. AS A NEW SHAREHOLDER
AND
ANNOUNCES $4,800,000
RAISED FROM WARRANT EXERCISE
VANCOUVER,
September 12, 2013 - Novo Resources Corp.
(?Novo? or the ?Company;? CNSX: NVO;
OTCQX: NSRPF)
welcomes
Newmont Canada FN Holdings ULC ("Newmont"), a
subsidiary of Newmont Mining Corporation, as a new, major
shareholder. On September 4, 2013, Newmont announced that
it had acquired beneficial ownership of 17.76 million
(approximately 35.7%
after giving effect to the exercise of certain warrants in
connection with the
transaction) of the outstanding common shares of Novo pursuant to
private
agreements with two of the Company?s shareholders. Newmont has
reported that it
is acquiring the common shares of Novo for investment purposes and
may, subject
to market conditions, take other actions in respect of Novo,
including making
additional investments in, or effecting dispositions of, securities
of Novo.
Novo also announces that 8,000,000 warrants issued through a
private
placement on November 30, 2011 (see news release of November 30,
2011) have
been exercised for total cash consideration of $4.8 million. The
remaining 6,681,200
outstanding warrants will expire at 4pm PST on November 30,
2013. Novo?s cash balance currently stands at
approximately $8.26 million.
?We are delighted to welcome Newmont as a new, major shareholder of
Novo
and to see a substantial number of our outstanding warrants
exercised bringing
$4.8 million into our treasury,? commented Dr. Quinton Hennigh,
President, CEO
and Director of Novo Resources. ?We view Newmont?s investment in
our company as
a vote of support for our Pilbara project in Western Australia, and
the
infusion of cash will allow us to comfortably advance this exciting
project.?
About
Novo Resources Corp.
Novo?s
focus is to evaluate,
acquire and explore gold properties. The Company presently has
joint ventures
earning a 70% interest two exploration properties, Beatons Creek
and Marble
Bar, situated in Western Australia. For more information, please
contact Leo
Karabelas at (416) 543-3120 or e-mail leo@novoresources.com
.
On
Behalf of the Board of Directors,
Novo
Resources Corp.
?Quinton
Hennigh?
Quinton
Hennigh
CEO
and President
The
Canadian National Stock Exchange has not
reviewed and does not accept responsibility for the adequacy or
accuracy of the
content of this news release.
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