NovaCopper Inc. (NCQ) announced that it has raised $7,500,000 in a Units (Common Stock + Warrants) transaction. The common stock was sold at $1.15 per share, an approximate 5% premium to the market price ($1.10) of NCQ at deal announcement. A series of 6,521,739 60-Month Warrants with an exercise price of $1.50 per share (36.36% premium) was issued to the investors in this transaction. The investors include Electrum Strategic Resources LLC and Paulson & Company, Inc.. The transaction is expected to close on 07/03/2014.