---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-25-002363"
form_type: "8-K"
ticker: "NG"
cik: "0001173420"
company_name: "NOVAGOLD RESOURCES INC"
filed_at: "2025-04-22T23:59:59+00:00"
generated_at: "2026-05-23T09:04:03.431746+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001171843-25-002363
- form_type: 8-K
- ticker: NG
- cik: 0001173420
- company_name: NOVAGOLD RESOURCES INC
- filed_at: 2025-04-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 8.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1173420/000117184325002363/0001171843-25-002363-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1173420/000117184325002363/f8k_042025.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-25-002363
- JSON: https://secwatch.observer/filing/0001171843-25-002363.json
- Plain text: https://secwatch.observer/filing/0001171843-25-002363.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.