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Nova Minerals Limited (Nasdaq:NVA), a gold and critical minerals exploration stage company focused on advancing the Estelle Gold Project in Alaska, U.S.A., has announced the pricing of an underwritten public offering of 430,000 American Depository Shares (ADS) at a public price of US$5.00 per ADS. With an ADS-to-ordinary-share ratio of 1 to 60, the offering is expected to generate gross proceeds of US$2,150,000, before deducting underwriting discounts and offering expenses.
In addition to the initial offering, Nova has granted the underwriters a 45-day option to purchase up to an additional 43,000 ADSs to cover over-allotments, should they arise. The proceeds from this offering are earmarked for resource and exploration field programs, which include further drilling, exploration, feasibility studies, and general working capital to advance the Company’s projects.
The closing of the offering is anticipated for September 25, 2024, subject to customary closing conditions. ThinkEquity is acting as the sole book-running manager for the offering, providing expertise in navigating the public capital markets.
The public offering follows the filing of a registration statement on Form F-1 (File No. 333-282224) with the Securities and Exchange Commission (SEC), which became effective on September 23, 2024. The offering will be conducted only by means of a prospectus. Once available, copies of the final prospectus can be obtained from ThinkEquity at 17 State Street, 41st Floor, New York, New York 10004. The final prospectus will also be accessible on the SEC’s website at http://www.sec.gov.
This announcement is not intended to serve as an offer to sell or a solicitation of an offer to buy these securities, nor will there be any sale of these securities in states or jurisdictions where such an offer or sale would be illegal prior to registration or qualification under the securities laws of any such state or jurisdiction.
As Nova Minerals advances its Estelle Gold Project, this public offering marks a critical step in securing the necessary funding for its ambitious exploration and development initiatives, positioning the Company for growth in the dynamic field of gold and critical minerals.
