NOVAGOLD Announces Full Exercise and Closing of Underwriters' Option

Core Viewpoint - NOVAGOLD Resources Inc. has successfully completed the full exercise of the underwriters' option, resulting in the sale of an additional 7,177,500 common shares at a price of $3.75 per share, leading to increased net proceeds of approximately $195.2 million from the public offering [1][2]. Group 1: Financial Details - The total number of common shares sold in the public offering has increased to 55,027,500 shares [2]. - The net proceeds from the offering, after deducting underwriting discounts and offering expenses, amount to approximately $195.2 million [2]. - The company intends to use approximately $25.6 million of the net proceeds for general corporate purposes, including expenses related to updating the Donlin Gold Feasibility Study [3]. Group 2: Underwriters and Regulatory Information - Citigroup, RBC Capital Markets, BMO Capital Markets, and Canaccord Genuity acted as joint book-running managers for the public offering [4]. - A shelf registration statement on Form S-3 was filed with the SEC on April 23, 2025, and became effective upon filing [5]. Group 3: Company Overview - NOVAGOLD is focused on the development of the Donlin Gold project, which is located in Alaska and is considered one of the largest and highest-grade open-pit gold deposits globally [7].