Novo Resources Corp (NSRPF: OTCQX International) | NOVO RESOURCES ANNOUNCES $8,268,000 RAISED FROM WARRANT EXERCISES

NOVO RESOURCES ANNOUNCES $8,268,000 RAISED FROM WARRANT EXERCISES

Dec 03, 2013

OTC Disclosure News Service

Vancouver, BC, Canada

Novo Resources Corp.

Suite
1980 ? 1075 West Georgia Street

Vancouver,
BC, V6E 3C9

 

NOVO RESOURCES ANNOUNCES $8,268,000 RAISED FROM WARRANT EXERCISES

VANCOUVER, December 3, 2013 – Novo Resources Corp. (CNSX:
NVO; OTCQX: NSRPF) reports the exercise of 93% of the 14,782,500 share purchase warrants issued in a
private placement which closed on November 30, 2011 (see Novo?s news release of
November 30, 2011), raising gross proceeds of $8,268,000.  The remaining warrants have expired. The gross
proceeds mentioned above includes the warrant exercise discussed in Novo?s news
release dated September 12, 2013. Novo?s current cash balance stands at
approximately $10.96 million.

?We are grateful for the resounding support from our shareholders as
expressed by the exercise of the vast majority of these warrants,? commented
Dr. Quinton Hennigh, President, CEO and Director of Novo. ?We are in a very
strong position with $10.96 million in the bank. This money will allow us to
advance work on our existing properties and also look at opportunities to
potentially expand our land position or acquire assets that could compliment
the value we are building in the Pilbara. It is in distressed times such as these
in which the best values can be found.?

About
Novo Resources Corp.

Novo?s
focus is to evaluate, acquire and explore gold properties. The Company
presently has joint ventures earning a 70% interest two exploration properties,
Beatons Creek and Marble Bar, situated in Western Australia. For more
information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com.

 

On Behalf of the Board of Directors,

 

Novo Resources Corp.

 

?Quinton Hennigh?

Quinton Hennigh

CEO and President


 

The Canadian National Stock Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of the content of this news
release.

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/NSRPF/news?id=72493

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