- Palladium One (PDM) has closed its private placements for gross proceeds of $4.95 million
- The offerings consisted of a brokered private placement for proceeds of $4,200,000 and a non-brokered private placement for proceeds of $750,000
- Proceeds from the offerings will be used to advance the company’s Ontario-based mineral exploration properties
- Palladium One is a palladium-dominant, PGE, nickel, copper exploration and development company
- Palladium One Mining Inc. (PDM) ended the day trading at C$0.115
Palladium One (PDM) has closed its previously announced private placements for gross proceeds of $4.95 million.
The offerings consisted of a brokered private placement for proceeds of $4,200,000 and a non-brokered private placement for proceeds of $750,000.
Under the brokered offering, the company issued 21,000,000 units at $0.20 each. Each FT unit consists of one common share and one-half of one common share purchase warrant. Each FT warrant entitles the holder to purchase one additional share for a period of 36 months.
Under the non-brokered offering, the company issued 5,000,000 units at $0.15 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each non-brokered warrant will entitle the holder to purchase one warrant Share at an exercise price of $0.20 for a period of 24 months from the date of issuance thereof.
Palladium One CEO, Derrick Weyrauch, commented on the capital raise.
“We are thrilled to complete this financing which positions the company for a very active start to 2023 at our Green Transportation copper-nickel-PGE properties. Although the global financing markets have been challenging, we increased our initial brokered offering from $3.0 million to $4.2 million. We are thankful for our existing shareholders and welcome our new shareholders through this financing.”
The offering will be led by Echelon Capital Markets, along with Sprott Capital Partners LP and Research Capital Corporation. The agents will be entitled to a 6 per cent cash fee and non-transferable warrants equal to 6.0 per cent of the number of charity FT units sold.
No fees were paid with respect to the non-brokered offering.
Proceeds from the offerings will be used to advance the company’s Ontario-based mineral exploration properties.
Palladium One is a palladium-dominant, PGE, nickel, copper exploration and development company.
Palladium One Mining Inc. (PDM) ended the day trading at C$0.115.
