Northwire Canada EditionWednesday, November 11, 2026
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Financings

Novagold Resources closes $310-million (U.S.) financing

By The Northwire Desk — AI Analysis Feb 06, 2026 · 01:28 NG · 11.38 Novagold Resources Inc.
NG · Price

Executive Summary

  • Novagold Resources Inc. has closed an upsized bought deal private placement, raising approximately US$310 million in gross proceeds.
  • The offering consisted of 31.02 million common shares priced at US$10 per share, including the partial exercise of the overallotment option and participation from two cornerstone investors.
  • Net proceeds are designated for expenditures at the Donlin gold project, settlement of a prepayment option with Barrick Mining Corp., and general corporate purposes.

Key Details

  • Gross Proceeds: Approximately US$310 million.
  • Shares Issued: 31.02 million common shares.
  • Price Per Share: US$10.00.
  • Underwriters/Bookrunners: BMO Capital Markets, RBC Capital Markets, and Scotiabank.
  • Underwriter Fees: Aggregate cash fee of 5% of gross proceeds.
  • Use of Proceeds:
    • Expenditures associated with activities at the Donlin gold project.
    • Settlement of the company's prepayment option on the promissory note with Barrick Mining Corp.
    • General corporate purposes.
  • Investor Composition: Included two cornerstone investors.
  • Regulatory/Trading Conditions:
    • Offered in Canada, the US, and other jurisdictions under applicable prospectus/registration exemptions.
    • Common shares are subject to a minimum six-month hold period from the closing of the offering under applicable securities laws.

Notable Quotes

  • No direct quotes from management were included in the provided text.
Read the original news release →

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Nov 10, 2026 · 17:00

Novagold consolidates Donlin ownership on December 1, with a New York Stock Exchange listing to follow.

M&A / Property Nov 04, 2026 · 17:00

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M&A / Property Aug 11, 2026 · 16:45

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Financings Jul 22, 2026 · 07:00

Novagold will acquire 100% of the Donlin Gold project in an all-share transaction, consolidating America’s largest undeveloped gold mine.

M&A / Property