M&A - Electrum Strategic Resources L.P.

Form Type: SCHEDULE 13D/A

Filing Date: 2025-04-23

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025057379

Filing Summary: This Amendment No. 9 to the Schedule 13D reports on Electrum Strategic Resources L.P.'s recent acquisition activities regarding Novagold Resources Inc. (the Issuer). On April 22, 2025, the Issuer announced a definitive agreement to acquire Barrick Gold Corporation's 50% interest in Donlin Gold LLC for $1.0 billion. Electrum Strategic has committed up to $42.5 million to finance its share of the acquisition, subscribing for common shares at $3.00 each and receiving warrants for additional shares. The backstop agreement with Electrum Strategic and other investors ensures funding for the Issuer's obligations related to this acquisition, with proceeds directed towards the acquisition costs. This document serves to clarify changes in share ownership and the roles of various parties involved in the transaction.