NOVAGOLD Resources has signed a series of definitive agreements to acquire the remaining 40% interest in Donlin Gold from Paulson Advisers and its affiliates in an all-share transaction.
The deal will give NOVAGOLD full ownership of Donlin Gold and lead to the creation of a new US-domiciled parent company, NovaGold Corporation, which will seek a listing on the New York Stock Exchange.
The resulting company is expected to have an equity value of around $4.2bn (C$5.91bn).
Following completion, current NOVAGOLD shareholders, including Paulson's existing equity interest, are expected to hold around 65% of NovaGold Corporation, while Paulson will receive an approximate 35% stake on a fully diluted basis for its Donlin Gold share.
Paulson's economic interest in the combined entity will be around 40%, with voting rights capped at 19.99%.
#Gold #around #paulson
The deal will give NOVAGOLD full ownership of Donlin Gold and lead to the creation of a new US-domiciled parent company, NovaGold Corporation, which will seek a listing on the New York Stock Exchange.
The resulting company is expected to have an equity value of around $4.2bn (C$5.91bn).
Following completion, current NOVAGOLD shareholders, including Paulson's existing equity interest, are expected to hold around 65% of NovaGold Corporation, while Paulson will receive an approximate 35% stake on a fully diluted basis for its Donlin Gold share.
Paulson's economic interest in the combined entity will be around 40%, with voting rights capped at 19.99%.
#Gold #around #paulson
2 months ago
