Palladium One Mining Inc.
Palladium One Mining Inc.
- ISIN: CA69644D1087
- Land: .
Nachricht vom 20.05.2020 | 22:15
Palladium One Announces Closing of Private Placement
DGAP-News: Palladium One Mining Inc.
/ Key word(s): Miscellaneous
Vancouver, British Columbia--(Newsfile Corp. - May 20, 2020) - Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (OTC Pink: NKORF) (the "Company" or "Palladium One") is pleased to report that it has closed the first tranche of its previously announced, non-brokered private placement of flow through units for gross proceeds of $1,057,950 (News Release dated May 6, 2020).
The Company has issued 2,700,000 flow-through units at a price of $0.13 per unit and 7,855,000 flow-through units at a price of $0.09 per unit (collectively "Unit"). Each Unit is comprised of one common share in the capital of the Company (a "Common Share"), one-half of one Common Share purchase warrant (each whole warrant a "Warrant") exercisable for 24 months from closing. The Warrants are subject to a four-month hold period in Canada from the closing date, acceleration and customary capital adjustments.
Derrick Weyrauch, President and CEO commented "This financing provides a measured approach to test the compelling, Smoke Lake drill target, located near Marathon, Ontario, Canada, and helps preserve existing 'hard dollar' cash resources for drilling at the palladium dominant LK project in Finland, where drilling was suspended due to Covid-19."
The gross proceeds will be used by the Company to incur eligible Canadian exploration expenses (as defined in the Income Tax Act (Canada)) through the exploration of the Company's properties located in the province of Ontario.
In connection with the closing of the placement the Company paid finders' fees totaling $33,452 and 135,000 Warrants to finders who introduced subscribers to the Offering.
About Palladium One
ON BEHALF OF THE BOARD
For further information contact:
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be 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 registration.
Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/56240
Click on, or paste the following link into your web browser,to view the associated documents http://www.newsfilecorp.com/release/56240
News Source: Newsfile
|Company:||Palladium One Mining Inc.|
|EQS News ID:||1052461|
|End of News||DGAP News Service|
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