Share Purchase Plan Update
Melbourne, July 31, 2019 AEST (ABN Newswire) - The directors of Nova Minerals Limited (Nova or Company) (
ASX:NVA)(QM3:FRA) hereby advises the results of its Share Purchase Plan (SPP), which closed Monday, 29 July 2019.
The Company initially had sought to raise $1 million under the SPP. Nova received applications from 346 eligible shareholders worth $3,135,000 in valid subscriptions under the SPP. As a result, the board of directors will increase the amount raised under the SPP to $2,508,000.
Despite the increase in the size of the SPP, the Company found it necessary to scale back the applications. The scale back was applied at approximately 20% on an equal basis across all eligible shareholder applicants.
"We are pleased with the outcome of the SPP and the opportunity to now move to our Maiden Gold JORC Report at the District Scale Estelle Gold Project" said Nova's MD, Mr Avi Kimelman. "The groundswell of support from shareholders for the SPP allows the Company to aggressively pursue its exciting exploration endeavours in Alaska, further develop its Thompson Bros lithium opportunity through our Snow Lake Resources spin off and unlocking value through its highly prospective opportunities within the company's project portfolio."
Nova expects to complete the SPP allotment and despatch refunds and holding statements for the new shares allotted to shareholders on or about Monday 5th August 2019. The new shares are expected to commence trading on the ASX on Tuesday 6 August 2019.
To view the full release, please visit:
http://abnnewswire.net/lnk/763AL339
About Nova Minerals Limited
Nova Minerals Limited (ASX:NVA) (FRA:QM3) is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km2 of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already defined multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The 85% owned project is located 150 km northwest of Anchorage, Alaska, USA, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world's largest gold mines and discoveries including, Barrick's Donlin Creek Gold Project and Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts significant Antimony deposits and was a historical North American Antimony producer.
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