NEW YORK, NEW YORK--(Marketwire - May 10, 2012) - Electrum Strategic Resources LLC ("Electrum") announces that it acquired ownership of 8,872,033 common shares ("Shares") of NovaCopper Inc. ("NovaCopper") and warrants (the "Warrants") exercisable for an additional 5,222,879 Shares, pursuant to a plan of arrangement completed by NovaGold Resources Inc. to spinoff NovaCopper into a separate company on April 30, 2012.
Electrum owns 8,872,033 Shares representing approximately 19.04% of the issued and outstanding Shares. Electrum also owns Warrants exercisable for 5,222,879 Shares which, if exercised, would result in the Offeror owning approximately 27.21% of the issued and outstanding Shares.
The Warrants and Shares referred to above are held for investment purposes and Electrum and/or one or more of its affiliates may, depending on market and other conditions, increase or decrease its beneficial ownership of Shares or other securities of the issuer whether in the open market, by privately negotiated agreement or otherwise.
Electrum Strategic Resources LLC is located at 535 Madison Avenue, 12th Floor, New York, NY 10022. A copy of the report relating to this acquisition can be obtained from Lillian Saldanha at (646) 532-2833 or on NovaCopper's profile at www.SEDAR.com.
Contact Information:
(646) 532-2833