Posted in | Palladium | Mining Business

North American Palladium Intends to Use Placement Proceedings to Explore Canadian Mines

North American Palladium Ltd. (TSX:PDL)(NYSE Amex:PAL) has completed its previously announced flow-through financing through which the Company sold 2,667,000 flow-through shares of NAP on a guaranteed basis at a price of C$8.25 per share.

The syndicate of underwriters was led by RBC Capital Markets and Scotia Capital Inc. and included Cormark Securities Inc., Stifel Nicolaus Canada Inc., Macquarie Capital Markets Canada Ltd., GMP Securities L.P., Haywood Securities Inc. and Octagon Capital Corporation.

The Company intends to use the proceeds from the Offering for exploration activities that will constitute Canadian exploration expenditures, a portion of which will qualify as "flow-through mining expenditures" as defined in the Income Tax Act (Canada).

The Flow-Through Shares have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States or to "U.S. persons" as defined in Regulation S under the U.S. Securities Act. This press release does not constitute an offer to sell the Flow-Through Shares in the United States or to U.S. persons.

Source: North American Palladium Ltd.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    North American Palladium Ltd.. (2019, February 18). North American Palladium Intends to Use Placement Proceedings to Explore Canadian Mines. AZoMining. Retrieved on January 24, 2020 from https://www.azomining.com/News.aspx?newsID=3302.

  • MLA

    North American Palladium Ltd.. "North American Palladium Intends to Use Placement Proceedings to Explore Canadian Mines". AZoMining. 24 January 2020. <https://www.azomining.com/News.aspx?newsID=3302>.

  • Chicago

    North American Palladium Ltd.. "North American Palladium Intends to Use Placement Proceedings to Explore Canadian Mines". AZoMining. https://www.azomining.com/News.aspx?newsID=3302. (accessed January 24, 2020).

  • Harvard

    North American Palladium Ltd.. 2019. North American Palladium Intends to Use Placement Proceedings to Explore Canadian Mines. AZoMining, viewed 24 January 2020, https://www.azomining.com/News.aspx?newsID=3302.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit