NovaGold Resources Inc. (NG.TO) said that further to its news release of December 7, 2009, it has filed a final short form base shelf prospectus with the securities commissions in each of the provinces of Canada, except Quebec, and a corresponding amendment to its registration statement with the United States Securities and Exchange Commission.
This shelf prospectus is intended to replace the company's previous shelf prospectus, originally filed on March 19, 2007, which expired on May 16, 2009.
The company stated that these filings will allow the company to make offerings of debt securities, preferred shares and common shares, warrants to purchase Equity Securities and warrants to purchase Debt Securities, share purchase contracts and share purchase or equity units or any combination thereof up to an aggregate initial offering price of US$500 million during the 25-month period that the final short form base shelf prospectus remains effective.
The net proceeds from the sale of the Securities will be used for general corporate purposes, including funding potential future acquisitions and capital expenditures.
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