CALRF - Novo sells partial Blue Spec project to Calidus Resources

Novo Resources (NSRPF) signed a binding terms sheet with Calidus Resources (CALRF) to sell a portion of its Blue Spec project for gross cash consideration of ~C$18.6M (A$19.5M).Calidus will pay a non-refundable A$200K deposit within two business days; remaining cash consideration is due by November 30, 2020.The Blue Spec project was purchased in August 2015 for gross cash and equity consideration of ~C$674K.Novo plans to use sale proceeds to rapidly advance expansion of its Beatons Creek deposit as well as test its numerous other near-surface gold targets in the region, part of Novo’s vision for growth in the Nullagine camp.

For further details see:

Novo sells partial Blue Spec project to Calidus Resources