Mark Gareth Creasy to Acquire 11,646,047 Common Shares of Novo Resources Corp. - KTUL.com - Tulsa, Oklahoma - News, Weather & Sports

Mark Gareth Creasy to Acquire 11,646,047 Common Shares of Novo Resources Corp.

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Vancouver, Canada / ACCESSWIRE / March 6, 2014 / Mark Gareth Creasy reports that he and entities controlled by him, including Yandal Investments Pty Ltd (collectively, the “Creasy Group“) have the right to the issuance of up to 11,646,047 common shares of Novo Resources Corp. (CSE: NVO; OTCQX: NSRPF) representing approximately 17.3% of the issued and outstanding common shares of Novo taking into account the issuance of the said 11,646,047 common shares. The lowest average price per share to be paid for these shares is $1.09.

The Creasy Group and Novo Resources Corp. (“Novo“) entered into a terms sheet dated March 4, 2014 pursuant to which the Creasy Group has the right to the issuance of up to 11,646,047 common shares pursuant to a debt settlement and in consideration for the transfer to Novo of some of the shares held by the Creasy Group in Conglomerate Gold Exploration Pty Limited, a subsidiary of Novo. The total value of the consideration in respect of which the Novo shares are to be issued is approximately $12,627,730.

The Creasy Group will hold these common shares of Novo for investment purposes and may, subject to market conditions, take other actions in respect of Novo, including making additional investments in, or effecting dispositions of, securities of Novo.

A copy of the report to be filed with Canadian securities regulators in connection with the issuance of these shares can be obtained upon its filing under Novo’s profile on the SEDAR website (www.SEDAR.com).

ReleaseID: 412766

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