NOVAGOLD to acquire Barrick's 50% interest in Donlin Gold for $1.0B; issues warrants and backstop financing

NOVAGOLD RESOURCES INC

NOVAGOLD increases Donlin Gold stake from 50% to 60% for $200M; Paulson acquires 40% for $800M; total deal $1.0B.
Acquisition expected to close Q2 2025; backstop financing of up to $170M at $3.00/share from existing shareholders.
25.5M warrants issued at $3.00 exercise price, 5-year term; existing promissory note to Barrick (~$155.1M) amended.
Post-closing: new feasibility study under S-K 1300/NI 43-101; 2025 drill program focuses on reserve conversion.
NOVAGOLD has option to prepay $90M on the promissory note before closing; balance of $30M from available cash.

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