Replies to post #174 on Novo Resources Corp. (NSRPF)

[JB3729]

Looks like you know less than you claim -

Last, KL owns less than 10%. And as stated earlier, they can't make any acquisition on the open market. They would have to make a bid and that is not what QH wants to do. He wants to develop this and prove his theory.

TORONTO, ONTARIO--(Marketwired - Sept. 6, 2017) - Kirkland Lake Gold Ltd. ("Kirkland Lake Gold" or the "Company") (TSX:KL)(NYSE:KL) announces that it has acquired 14,000,000 units ("Units") of Novo Resources Corp. (TSX VENTURE:NVO) (the "Issuer") by way of private placement financing at a price of CAD$4.00 per Unit for a total purchase price of CAD$56,000,000 (the "Acquisition"). Each Unit consists of one common share of the Issuer (the "Shares") and one common share purchase warrant (a "Warrant") entitling the Company to acquire a common share of the Issuer at a price of CAD$6.00 until September 6, 2020. The Warrants are subject to an accelerated expiry whereby, starting one year from the date hereof, if the daily high trading price of the Issuer's common shares exceeds $12.00 for a period of 20 consecutive trading days, the Issuer may provide notice of early expiry and the Warrants will expire 30 days thereafter. The Company will retain an anti-dilution right and the right to appoint a nominee to the Board of the Issuer, as further described in the Company's press release dated September 5, 2017.
As of the date hereof, after giving effect to Acquisition, the Company beneficially owns 25,830,268 Shares and 14,000,000 Warrants, representing approximately 18.19% of the currently issued and outstanding Shares of the Issuer on a non-diluted basis and approximately 25.53% of the currently issued and outstanding Shares of the Issuer on a partially-diluted basis. All of the securities issued in the private placement financing are subject to a statutory hold period expiring on January 7, 2018.
The Units were acquired for investment purposes. Kirkland Lake Gold has a long-term view of the investment and may acquire additional securities either on the open market or through private acquisitions or sell the securities either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.