Andover Mining Corp. V.AOX

The timing certainly is interesting/

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NovaCopper to raise US$20M through private placement, public offering NovaCopper intends to raise a total of approximately US$20M through the combination of a public offering and a private placement with its large shareholders. The company has commenced an underwritten public offering of up to US$10M of common shares led by RBC Capital Markets and Cormark Securities. The pricing and number of securities will be determined in the course of marketing. The Offering is being conducted in each of the provinces of Canada, other than Québec, and in the United States. The proposed Offering will be conducted in Canada by way of a preliminary prospectus supplement dated February 19, a final prospectus supplement, and the company's short form base shelf prospectus dated March 11, 2013. In addition, NovaCopper intends to offer and sell these securities by way of a prospectus supplement and accompanying base prospectus pursuant to its existing shelf registration statement on Form S-3 (File No. 333-185127) which was declared effective by Securities and Exchange Commission on March 14. The Offering is expected to close on or about February 28. In conjunction with the Offering, the company anticipates a concurrent non-brokered private placement of common shares to the Company's largest shareholders: Electrum Strategic Resources LP, Paulson & Co. Inc. and The Baupost Group, L.L.C., for additional gross proceeds to NovaCopper of up to US$10M, whereby these shareholders would maintain their pro-rata ownership of approximately 45% in the company. The common shares offered under the Private Placement are expected to be issued on the same terms as the securities issued in connection with the Offering, and will be issued on a private placement basis pursuant to exemptions from applicable Canadian and U.S. securities laws. The securities issued under the Private Placement will be subject to a four-month hold period from the closing date of the Private Placement and will not be registered under the U.S. Securities Act. The Offering is conditional upon closing of the Private Placemen