11:53 AM EST - NovaCopper Inc. : announced that it has been informed by NovaGold Resources Inc. that its largest shareholder, Electrum Strategic Resources L.P., has elected to exercise the entirety of its 31,337,278 NOVAGOLD share purchase warrants. Each NOVAGOLD share purchase warrant allows the holder to purchase one NOVAGOLD common share and one-sixth of a NovaCopper common share at an exercise price of CAD$1.479. These warrants were to expire January 21, 2013. The entire cash proceeds of this warrant exercise have been remitted to NOVAGOLD. NovaCopper Inc.
shares T.NCQ are trading up $0.15 at $1.95.
