JWS advises Novo Resources on its oversubscribed IPO and ASX listing

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Independent law firm Johnson Winter Slattery acted for Novo Resources Corp. (ASX: NVO, TSX: NVO, OTCQX: NSRPF) (Novo) on its successful Initial Public Offering (IPO) and listing of its CHESS Depositary Interests (CDI) on the Australian Securities Exchange (ASX). Novo’s IPO closed early and was oversubscribed raising A$7.5m at A$0.20 per CDI, with strong support from sophisticated and institutional local investors.

Novo is a leading Western Australian gold explorer which owns a 10,500 sq km Pilbara exploration portfolio in Western Australia and the Belltopper Gold Project in Victoria. Novo’s portfolio includes key projects such as Becher, Nunyerry North and Balla Balla and it has a well-defined growth strategy of seeking to identify and define deposits with material development potential.

Novo Executive Co-Chairman and Acting CEO Mike Spreadborough said this was an exciting milestone for Novo and the Company looks forward to continuing to deliver value to its new and existing shareholders through the ASX listing.

“We are delighted to be listed on the ASX and I would like to welcome all new shareholders to Novo, the future is very exciting. I would also like to extend my thanks to all the many people involved in getting us to this stage and acknowledge all the hard work that went into getting us ASX ready. The ASX listing is the logical next step for Novo and will facilitate our Australian growth plans, considering the local investor appetite for mining and exploration opportunities.  We are focused on accelerating our exploration activities and seeking value accretive opportunities to grow long-term shareholder value.”

The JWS team was led by Partner Justin Harris and Special Counsel Kate Naude, with critical roles held by Partner Pete Smith, Special Counsel Andrew Ricciardi and Associates Isabel McElhinney, Thulasie Venkat and Luke Paganin.

Justin Harris commented, “We are delighted to have assisted Novo in reaching this significant milestone in its business. Novo has been a long-standing client of the firm and its IPO is the culmination of much hard work. The successful completion of the Australian IPO in the current market is a testament to both the nature and potential of Novo’s strategy and its team, and it has been a pleasure to work with Novo and position it for the next exciting phase of its growth.”


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Johnson Winter Slattery is a leading independent Australian law firm with over 85 partners and 6 offices across Australia. We advise major corporates, funds and governments on their most challenging transactions and disputes.

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