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Financings

NOVAGOLD Announces US$200 Million Bought Deal Financing

By The Northwire Desk — AI Analysis Jan 22, 2026 · 16:19 NG · 14.46 Novagold Resources Inc.
NG · Price

Executive Summary

  • NOVAGOLD RESOURCES INC. has entered into a bought deal private placement agreement with BMO Capital Markets, RBC Capital Markets, and Scotiabank to raise approximately US$200 million in gross proceeds.
  • The offering consists of 20,000,000 common shares priced at US$10.00 per share, including a US$140 million cornerstone investment from a leading European institution.
  • Net proceeds are designated for Donlin Gold project expenditures, settlement of a prepayment option on a promissory note with Barrick Mining Corporation, and general corporate purposes.

Key Details

  • Transaction Structure: Bought deal private placement via underwriters BMO Capital Markets, RBC Capital Markets, and Scotiabank.
  • Share Quantity: 20,000,000 common shares.
  • Price: US$10.00 per common share.
  • Gross Proceeds: Approximately US$200 million (before deducting underwriter fees and expenses).
  • Cornerstone Investment: US$140 million from a leading European institution.
  • Over-Allotment Option: Granted to underwriters to purchase up to an additional 15% of the shares (up to 3,000,000 shares) within 48 hours prior to closing, potentially increasing gross proceeds by up to US$30 million for a total aggregate of up to US$230 million.
  • Use of Proceeds:
    • Expenditures associated with Donlin Gold activities.
    • Settlement of the Company’s prepayment option on the promissory note with Barrick Mining Corporation.
    • General corporate purposes.
  • Closing Date: Expected on or about February 5, 2026.
  • Regulatory Conditions: Subject to receipt of necessary regulatory approvals, including Toronto Stock Exchange approval and NYSE American authorization.
  • Hold Period: Common shares are subject to a minimum 6-month hold period from closing under applicable securities laws.
  • Promissory Note Context: As of November 30, 2025, the promissory note with Barrick (including accrued interest) amounted to approximately $166.3 million. The company has an option to prepay this note in full for $100 million on or before December 3, 2026.

Notable Quotes

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

More from Novagold Resources Inc.

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

Novagold shareholders approved the Donlin consolidation, a transaction valued at $1.2 billion that is still pending final closing procedures.

M&A / Property Oct 08, 2026 · 08:00

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Novagold shareholders will vote on November 3 to finalize the 100% acquisition of the Donlin project, with the transaction timeline reconfirmed.

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