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Nova Royalty closes C$14.4M financing to support new royalty acquisitions

The offering includes the full exercise of the overallotment option by lead agents PI Financial and Cantor Fitzgerald

Nova Royalty Corp. -
Nova holds royalties on a group of properties in the Americas

Nova Royalty Corp (CVE:NOVR) has closed a C$14.4 million financing designed to fund new royalty acquisitions.

The Vancouver-based team issued 9,947,500 shares at a price of $1.45 per share for aggregate gross proceeds of $14,423,875, including the full exercise of the overallotment option by lead agents PI Financial and Cantor Fitzgerald acting on behalf of a syndicate of agents. 

Additional funds raised will go towards working capital and general corporate purposes, according to a statement. 

READ: Nova Royalty upsizes offering to $12.5 million to fund new royalty acquisitions

PI Financial and Cantor Fitzgerald were supported by Cormark Securities, Haywood Securities, and CIBC World Markets.

Nova holds royalties on a group of properties in the Americas, including the recently acquired 2.4% royalty on Antofagasta’s Twin Metals project in the prolific Duluth Mining Complex of Minnesota.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: Nova Royalty Corp.

Price: 1.69 CAD

TSX-V:NOVR
Market: TSX-V
Market Cap: $90.3 m
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