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NovaGold Resources, Inc. announced that it has entered into a definitive agreement with Electrum Strategic Resources LLC providing for the sale to Electrum on a private placement basis of 46,153,847 units for a purchase price of $1.30 per unit, for aggregate gross proceeds of $60 million. Each unit consists of one common share of NovaGold and one common share purchase warrant of NovaGold. Each warrant entitles the holder thereof to acquire one common share of NovaGold for an exercise price of $1.50.


That takes some pressure off the NG price (but brings dillution)

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