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Stocks in play: Novo Resources Corp.

·1 min read

Has closed the second and final tranche of its previously announced sale of 15 million shares of New Found Gold Corp.. In the second tranche, Novo sold a total of 6.75 million escrowed New Found shares to a corporation controlled by Eric Sprott at $8.45 per share for gross proceeds of approximately $57.0 million Inclusive of the gross proceeds raised from the sale of 8.25 million New Found shares sold to Sprott at $8.35 per share in the first tranche, gross proceeds of approximately $125.9 million have been raised from the Transaction. Novo Resources Corp. shares T.NVO are trading unchanged at $0.55.