Novo Resources Corp.

09:53 AM EST - Novo Resources Corp. : Has closed the second and final tranche of its previously announced sale of 15 million shares of New Found Gold Corp.. In the second tranche, Novo sold a total of 6.75 million escrowed New Found shares to a corporation controlled by Eric Sprott at $8.45 per share for gross proceeds of approximately $57.0 million Inclusive of the gross proceeds raised from the sale of 8.25 million New Found shares sold to Sprott at $8.35 per share in the first tranche, gross proceeds of approximately $125.9 million have been raised from the Transaction. Novo Resources Corp. shares T.NVO are trading unchanged at $0.55.

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