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Source: Canadian Palladium
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  • Canadian Palladium (BULL) has closed its non-brokered private placement raising aggregate gross proceeds of $715,000
  • The company issued 6,217,389 flow-through units at a price of $0.115 per unit
  • Red Cloud Securities Inc acted as advisor for the placement
  • The securities issued under the placement may not be traded until January 25, 2022
  • Canadian Palladium is a Canadian-based mineral exploration company
  • Canadian Palladium Resources Inc. (Bull) is up 5.56 per cent, trading at C$0.095 per share at 2:30 pm ET

Canadian Palladium (BULL) has closed its non-brokered private placement raising aggregate gross proceeds of $715,000.

The company issued 6,217,389 flow-through units at a price of $0.115 per unit.

Each flow-through unit consists of one flow-through common share and one-half of one non-flow-through common share purchase warrant. Each whole purchase warrant may be exercised to acquire one non-flow-through common share at a price of $0.17 for a period of 24 months following the closing date.

The gross proceeds will be used for expenditures that qualify as “Canadian exploration expenses” and “flow-through mining expenditures” both within the meaning of the Income Tax Act (Canada).¬†

Canadian Palladium has paid advisory fees of $46,550 and issued 404,783 compensation warrants to Red Cloud Securities Inc, who acted as advisor for the placement. Each compensation warrant entitles Red Cloud to acquire one common share at a price of $0.115 for a period of 24 months following the closing date.

The securities issued under the placement may not be traded until January 25, 2022.

Canadian Palladium is a Canadian-based mineral exploration company pursuing Copper-Cobalt and Palladium exploration in Europe and North America.

Canadian Palladium Resources Inc. (Bull) is up 5.56 per cent, trading at C$0.095 per share at 2:30 pm ET.

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