Novo: Announces Upsize of Previously Announced Private Placement to C$42.5 Million and Concurrent Non-Brokered Private Placement of C$3 Million

VANCOUVER, British Columbia, Aug. 05, 2020 (GLOBE NEWSWIRE) — Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that due to demand from investors, it has increased the size of the previously announced private placement of subscription receipts (“Subscription Receipts”) of the Company from C$30 million to C$42.5 million and the size of the agents’ over-allotment option from 15% to 20% (the “Increased Brokered Offering”) in conjunction with its planned acquisition of Millennium Minerals Limited (the “Acquisition”) (please refer to the Company’s news release dated August 4, 2020 for further details). The Increased Brokered Offering is through a syndicate of agents led by Clarus Securities Inc. and Stifel GMP (the “Agents”). The Company is also pleased to announce a non-brokered private placement (the “Non-Brokered Offering”) of subscription receipts having the same characteristics and convertible into the same underlying securities as the subscription receipts offered under the Increased Brokered Offering (and hereafter also referred to as Subscription Receipts), to a president’s list on the same terms as the Increased Brokered Offering.

CLICK HERE to read the full news release from Novo Resources.