North American Palladium cancels $50 million 7% convertibles placement

By Devika Patel

Knoxville, Tenn., Sept. 2 - North American Palladium Ltd. announced it has decided not to proceed with a $50 million private placement of 7% four-year convertible notes.

The company said the terms of the deal, which priced Aug. 17, were not satisfactory.

Toronto-based North American Palladium is a platinum group metals exploration company.

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