Shareholders of tse-listed Northumberland Mines have until April 5 to tender their shares to an offer by NovaGold Resources.
NovaGold decided to extend the offer, which gives shareholders one NovaGold share for every 5.5 Northumberland shares held, to enable other shareholders to accept the offer.
The company has acquired about 79% of Northumberland’s shares and has decided to waive the condition that at least 90% of Northumberland’s shares be deposited, in favor of a 67% condition.
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