Novo Announces Proposed Private Placement

Core Viewpoint - Novo Resources Corp. is undertaking a capital raising through a proposed placement of securities to raise gross proceeds of approximately C$5,800,000 (approximately A$6,000,000) [1] Group 1: Placement Details - The Placement will consist of up to 59,100,000 units, with units priced at C$0.10 per share and Chess Depository Interests (CDIs) priced at A$0.105 per CDI [2] - Each unit will include one share and one-half of a share purchase warrant, with warrants having an exercise price of C$0.15 and expiring three years from the issue date [3] - The issue price for the units represents a 25% discount to the market price on the Toronto Stock Exchange, while the CDIs represent a 19.2% discount to the last closing price on the ASX [6] Group 2: Use of Proceeds - Proceeds from the Placement are intended to support exploration activities in the Pilbara region of Western Australia and at the Belltopper Gold Project in Victoria, as well as for general working capital [7] Group 3: Securities and Approvals - All securities issued under the Placement will be subject to a four-month hold period, and the Placement does not require shareholder approval in Australia or Canada [8] - The Lead Managers will receive up to 8,273,557 unlisted broker options, subject to shareholder approval at the Company's AGM planned for June 2026 [9] Group 4: Company Overview - Novo Resources is an Australian-based gold explorer focused on discovering standalone gold and copper projects with over 1 million ounces of development potential, covering approximately 4,160 square kilometers in the Pilbara region [14] - The company is advancing its exploration projects, including the Egina Gold Camp and the Belltopper project, and has formed a lithium joint venture with SQM in the Pilbara [15][16]