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Bellevue Gold substantial holder Bank of Novia Scotia increases stake to 12.27%

Bank of Novia Scotia and its associated parties and affiliates acquired an additional 5.45 million shares.

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The shares were purchased at an average price of about 53.4 cents

Bellevue Gold Ltd (ASX:BGL) substantial shareholder Bank of Novia Scotia has purchased 5.45 million ordinary shares, bringing its total shareholding to 55.26 million or 12.27%.

The shares were purchased on-market at an average share price of 53.39 cents, valuing the transaction at about $2.9 million.

Canadian multinational Bank of Novia Scotia first became a holder in Bellevue last October, after acquiring a 5.25% stake.

 

Bellevue recently raised $20 million through the issue of 37 million shares as part of a share placement.

The capital raising receiving strong support from institutional and sophisticated investors based in Australia, as well as continued support from its North American institutional investors.

The company is fully-funded to undertake drilling at its flagship Bellevue Gold Project throughout 2019, where it has defined a JORC resource of 1.53 million ounces grading 11.8 g/t gold.

 

Quick facts: Bellevue Gold Ltd

Price: 0.495 AUD

ASX:BGL
Market: ASX
Market Cap: $282.11 m
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