NovaGold to acquire remaining 40% stake in Donlin Gold from Paulson

NG Novagold Resources Inc

$6.71 +6.85%

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1. 1NovaGold Resources (NG) has signed a definitive agreement to acquire the remaining 40% stake in Donlin Gold from Paulson Advisors in an all-stock exchange transaction.
2. 2Upon completion of the acquisition, a new U.S. entity, NovaGold Corporation, will be established to pursue a New York Stock Exchange listing, with an expected equity value of approximately $4.2 billion (C$5.91 billion).
3. 3Existing NovaGold shareholders will hold approximately 65%, while Paulson will hold approximately 35% on a fully diluted basis (about 40% economic interest, with voting rights capped at 19.99%), with the transaction targeted for completion in the fourth quarter of 2026.

Source Bloomberg +1 · View original ↗

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