Nova Minerals plans to redomicile to the U.S., seeks Estelle project ownership

Nova Minerals (NVA) announced that, following the loss of its foreign private issuer status effective July 1, it intends to undertake a corporate reorganization. This will include a planned redomiciliation to the United States while maintaining its dual ASX and Nasdaq listings, pursuing the acquisition of the remaining 15% interest in the Estelle Gold and Critical Minerals Project, and initiating a search for a U.S.-based CFO with significant mining sector and U.S. GAAP accounting experience. Nova will cease to qualify as a foreign private issuer at the end of the current financial year and will be required to comply with the U.S. securities laws applicable to U.S. domestic companies from July 1. Nova expects to complete the redomiciliation by the end of June, subject to shareholder and court approvals and other customary conditions being satisfied. As part of the redomiciliation process, Nova intends to acquire the remaining 15% interest in the Estelle Gold and Critical Minerals Project (Estelle Project), giving it full ownership and supporting the project’s progression to construction and production while simplifying access to funding. As part of the company’s corporate reorganization, Nova advises that Michael Melamed has provided three months’ notice of his resignation as CFO while the company undertakes a formal process to appoint a U.S.-based CFO with experience in U.S. mining operations and U.S. GAAP accounting.