NovaGold Resources Inc. completed a bought deal equity offering of 35,000,000 common shares at US$9.50 per share for gross proceeds of US$332.5 million. The common shares were offered by way of the Company's short form base shelf prospectus dated January 5, 2012 as supplemented by a prospectus supplement dated February 2, 2012 filed in all provinces of Canada (other than Québec), and in the United States, pursuant to the multi-jurisdictional disclosure system.
The offering was made through a syndicate of underwriters co-led by RBC Capital Markets and J.P. Morgan Securities LLC and including BMO Capital Markets, Dahlman Rose & Company, National Bank Financial Inc. and TD Securities.
NovaGold's shares are listed on the TSX and the NYSE Amex LLC under the symbol NG. NovaGold is a precious metals company engaged in the exploration and development of mineral properties primarily in Alaska, and British Columbia.
Blake, Cassels & Graydon LLP acted as Canadian counsel to NovaGold, with a team that included Peter Kalbfleisch, Trisha Robertson, Ashley Baker and Kyle Misewich (securities) and Kevin Zimka (tax). Dorsey & Whitney LLP acted as US counsel to NovaGold, with a team that included Christopher Barry, Kimberley Anderson and Jon Leptich (securities).
McCarthy Tétrault LLP acted as Canadian counsel to the underwriters with a team that included Michael Urbani, Adam Wanke, Jonathan Duckles and Sarah Cunningham (securities) and TJ Kang (tax). Skadden, Arps, Slate, Meagher & Flom LLP acted as US counsel to the underwriters with a team that included Ricardo Leofanti, Mark Steinman and Vittoria Varalli (securities).