Novo Completes Full Repayment and Retirement of US$40 Million Sprott Lending Credit Facility

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Aug 12, 2022

VANCOUVER, British Columbia, Aug. 12, 2022 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to advise that it has completed repayment of its senior secured US$40 million credit facility (“Credit Facility”) with Sprott Resource Lending Corp. (“Sprott”) subsequent to the completion of the sale of the Company’s New Found Gold Corp. investment1. The Company is now free of long-term borrowings, with an unaudited consolidated cash balance of C$76.6 million.