Novo Resources Corp T.NVO

New Found Gold Acquisition

[woolco]

VANCOUVER, British Columbia, March 06, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that further to its news release dated March 2, 2020 (https://www.novoresources.com/news-media/news/display/index.php?content_id=381), it has closed the subscription for 15,000,000 common shares of New Found Gold Corp. (“New Found”). The subscription price was paid by the issuance of 6,944,444 common shares of Novo (the “Novo Shares”). The Novo Shares are subject to a statutory hold period expiring on July 7, 2020.

15 millino shares..at approx $1.20 valuation.

Value today $9

do the math... ( $120M increase in value) .market massive miss on this.

We should be $4 plus just on this.

Good news here is the market will figure it out/pay for it soon!!

[SilverSpurz]

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[SilverSpurz]

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[SilverSpurz]

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[Lederhose]

Please give us a detailed explnation of what you have heard, because this is the first time I hear about 2 more financings.

[SilverSpurz]

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[SilverSpurz]

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[Lederhose]

Please excuse for asking

[SilverSpurz]

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[Lederhose]

@ Spurz then thank you for nothing because there was no information

[BuccaneerCay]

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[Lederhose]

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[BuccaneerCay]

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[Lederhose]

O.K. I resect your opinion, but there is no proof that they wont be running profitable, only time will tell. I think it is far too early for such speculation, we should the team at least 3 month from now to get the mill running and then things will clear up.

[bull_runz]

Great news!  Average down, ladies and gentlemen :)

[SilverSpurz]

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[BetontheFed1]

I can see why Novo released the news on NFG.  It's some good news in a sea of bad news.  It's pathetic actually.  They closed on a stock they acquired 14 months ago by giving NFG over 6 million shares. I'll bet NFG was holding its breath on whether Novo would actually go thru with the deal being that Novo shares have gone up so much in value since 14 months ago. LOL

[BuccaneerCay]

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[ValuePro]

Yes, and we had a big more in New Found Gold today.  In US dollars, the price is now closer to 8 than to 7.  Amazing to behold! And, as you suggest, Novo has been getting no credit for this holding. VP in AZ

[TXRogers]

Novo will get credit in its stock price, when sustained and positive gold mining numbers are provided.  Novo has to show investors that a viable and growing business model has been established.  Regardless of the huge gains made via external investments. Keep pouring gold.  The more the better. Tx

[oldfx1]

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