Novus Gold Corp. (TSX-V: NOV) has exercised its option to re-acquire a 51% interest in the REN gold property from Terra Ventures Inc. Through the exercise of the option, Novus issued 7.5 million shares to Terra. Prior to Novus exercising the repurchase option, Terra had acquired a 51% interest in the REN property in the northwest territories as a result of having spent $1.5 million in expenditures on the REN property by December 31, 2009. Terra holds about 18.2% of the company's 41,125,000 issued shares.
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Novus Gold Corp. is a Canadian-based gold explorer, which has assembled a proven team, with the capabilities to find, finance and develop gold assets which have world class size and grade potential. In a financially uncertain world, gold has come back as the currency which is accepted everywhere. The Canadian Shield in Canada and the Caribbean Platform in the Dominican Republic are two regions that the company has selected to begin acquisitions and work.
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