Nova Minerals Limited Announces Closing of Public Offering

Core Viewpoint - Nova Minerals Limited has successfully closed its underwritten public offering, raising a total of $2,365,000 through the issuance of 473,000 American Depositary Shares (ADS) at a price of $5.00 per ADS, which will be utilized for resource and exploration programs [1][2]. Group 1: Offering Details - The public offering consisted of 473,000 ADSs, including 43,000 ADSs from the underwriter's over-allotment option, generating gross proceeds of $2,365,000 before expenses [1]. - The ADS-to-ordinary share ratio is set at 1 to 60 [1]. - ThinkEquity served as the sole book-running manager for the offering [2]. Group 2: Use of Proceeds - Proceeds from the offering will be allocated towards resource and exploration field programs, which include additional drilling, feasibility studies, and general working capital [2]. Group 3: Company Overview - Nova Minerals Limited is focused on the Estelle Gold Project in Alaska, covering 514 km² of mining claims with multiple mining complexes and over 20 advanced gold and antimony prospects [5]. - The project is located in the Tintina Gold Belt, known for its significant gold endowment exceeding 220 million ounces and hosting major gold mines [5].