NOVAGOLD Resources Inc. announced that its shareholders have approved all proposals related to the transaction to consolidate 100% ownership of the Donlin Gold project. The approval was granted at a special meeting held on November 3, 2026. The transaction will involve a new parent company, "New NOVAGOLD," acquiring all NOVAGOLD shares and the remaining 40% interest in Donlin Gold from Paulson Advisers LLC in an all-share deal.
Key Details
- Transaction Structure: New NOVAGOLD will acquire the 40% interest in Donlin Gold held by Paulson Advisers LLC, increasing its effective ownership from 60% to 100%. NOVAGOLD will become a subsidiary of the new parent company.
- Shareholder Approval: The primary "Arrangement Resolution" was approved at the special meeting on November 3, 2026, with 302,610,350 votes (over 99%) cast in favor.
- Post-Transaction Ownership: Current NOVAGOLD shareholders will own approximately 65% of New NOVAGOLD. Paulson and its affiliates will own approximately 39.7% of New NOVAGOLD shares, with their voting power capped at 19.99%.
- Timeline: The transaction is on track to be completed in the fourth quarter of 2026, pending final regulatory, court, and stock exchange approvals.