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Nova Minerals Limited January 2025 Form 6-K: Significant Share Issuance Update

$NVA
Form 6-K
Filed on: 2025-01-14
Source
Nova Minerals Limited January 2025 Form 6-K: Significant Share Issuance Update

Here are the key insights extracted from the provided section of the financial report:

  1. Document Type: This is a Form 6-K filing, which is typically used by foreign companies to provide information to the SEC.
  2. Company Information:
  • Name: Nova Minerals Limited
  • Commission File Number: 001-42132
  • Address: Suite 5, 242 Hawthorn Road, Caulfield, Victoria 3161, Australia
  • Contact: +61 3 9537 1238
  1. Reporting Period: This report is for the month of January 2025.
  2. Key Transaction:
  • On January 13, 2025, Nova Minerals issued 35,007,644 ordinary shares to Nebari Gold Fund 1, LLP.
  • This issuance was upon the conversion of US$5,420,934 (equivalent to A$8,751,911) in principal under the Nebari convertible loan facility.
  • The conversion price was fixed at A$0.25 per share, indicating the full conversion of all amounts due to Nebari under this facility.
  • Notably, the Company did not receive any cash proceeds from this conversion.
  1. Regulatory Compliance: The Company relied on exemptions from registration under Section 3(a)(9) and/or Section 4(a)(2) of the Securities Act of 1933 for this share issuance.
  2. Legal Disclaimer: The report states that it shall not be deemed "filed" for purposes of the Securities Exchange Act of 1934 and will not be incorporated by reference into any filing under the Securities Act unless explicitly stated.
  3. Signature:
  • Date: January 14, 2025
  • Signed by: Craig Bentley, Director of Finance and Compliance and Director.

This report indicates a significant capital restructuring event involving the conversion of debt to equity, which may affect the company's capital structure and future financing strategies.