Tuesday, March 9, 2010

NovaGold Resources Inc. (TSE:NG) Completes Stock Offering

NovaGold Resources Common Shares Offering

NovaGold Resources Inc. (TSE:NG) announced it has completed and closed it common share stock offering, raising $100 million ($99,999,999) from the $5.50 a share they received for them.

Paulson & Co. bought the shares in a non-brokered deal. The financing will officially close on March 11.

NovaGold said they'll use the capital primarily for development and exploration of several of their properties, Ambler property, Donlin Creek, Galore Creek and Rock Creek.

Some of the funds could be used for future acquisitions by the company as well.

NovaGold Resources Common Shares Offering

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