NovaGold agrees to buy Paulson stake to take Donlin Gold ownership to 100%

NovaGold agreed to acquire Paulson’s 40% stake in Donlin Gold, lifting its ownership to 100% in an all-share deal.

The transaction would create a new U.S.-domiciled parent, NovaGold Corporation, intended to list on the NYSE.

Current NovaGold shareholders would own about 65% of New NG; Paulson would receive about 35% fully diluted for its Donlin stake.

Including its existing holding, Paulson would own about 40% of New NG’s economic interest; voting power would be capped at 19.99%.

The parties expect the deal to close in Q4 2026; implied equity value cited at about USD 4.2 billion.