NOVAGOLD Resources Inc. announced it has filed and commenced mailing its definitive proxy statement for a special shareholder meeting to approve the acquisition of the remaining 40% interest in Donlin Gold LLC. The transaction, if approved, would increase NOVAGOLD's ownership of the Donlin Gold project to 100%.

Key Details

  • Transaction: NOVAGOLD seeks to acquire the 40% interest in Donlin Gold LLC held by Paulson Advisers LLC in an all-share transaction, consolidating ownership from 60% to 100%.
  • Shareholder Vote: A special meeting for shareholders to vote on the transaction is scheduled for November 3, 2026.
  • Post-Transaction Structure: A new parent company, "New NOVAGOLD," will be formed. Current NOVAGOLD shareholders will own approximately 65% of the new entity, while Paulson will hold a 39.7% economic interest with its voting interest capped at 19.99%.
  • Board Recommendation: The company's Board of Directors unanimously recommends that shareholders vote in favor of the transaction.