North American Palladium Ltd. (fka PALDF)

[JD400]

They did a private placement in December

North American Palladium Completes $10 Million Private Placement Of Flow-Through Common Shares


Dec 24 2018
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//THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION TO THE UNITED STATES//

TORONTO, Dec. 24, 2018 (GLOBE NEWSWIRE) -- North American Palladium Ltd. ("NAP" or the "Company") (TSX:PDL) (OTC PINK:PALDF) today announced that it has closed its previously announced non-brokered private placement financing (the "Offering"). Pursuant to the Offering, the Company has issued 714,257 common shares that are "flow-through shares" within the meaning of the Income Tax Act (Canada) (each a "Flow-Through Share") at a price of $14.00 per Flow-Through Share for aggregate gross proceeds to the Company of approximately $10,000,000.

All proceeds from the sale of the Flow-Through Shares will be used to incur eligible Canadian Exploration Expenses at the Company’s Camp Lake, East Mine Block and Sunday Lake properties, located in Ontario, Canada. The Company will renounce qualifying expenses as at December 31, 2018.

The Flow-Through Shares were issued on a private placement basis in certain provinces of Canada, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. The Flow-Through Shares are subject to a statutory hold period of four months and one day from the date of closing of the Offering. In connection with the Offering, certain finders will be entitled to receive payment of a cash finder’s fee of up to 6% of the gross proceeds of certain subscriptions under the Offering.

The Flow-Through Shares have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Flow-Through Shares in any state in which such offer, solicitation or sale would be unlawful.

http://www.nap.com/investors/news-releases/news-releases-details/2018/North-American-Palladium-Completes-10-Million-Private-Placement-Of-Flow-Through-Common-Shares/default.aspx