RBC Capital Markets is the agent; proceeds to be used for exploration
By Devika Patel
Knoxville, Tenn., Nov. 14 - North American Palladium Ltd. said it has arranged a C$4 million private placement of stock.
The company will sell 2,425,000 flow-through common shares at C$1.65 apiece.
The price per share represents a 20.44% premium to C$1.37, the Nov. 13 closing share price.
The deal will be conducted by RBC Capital Markets on a bought-deal basis.
Proceeds will be used for a surface exploration program at the Lac des Iles mine property and the other greenfields exploration properties in Ontario.
Toronto-based North American Palladium is a platinum group metals exploration company.
| Issuer: | North American Palladium Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$4,001,250
|
| Shares: | 2,425,000
|
| Price: | C$1.65
|
| Warrants: | No
|
| Agent: | RBC Capital Markets
|
| Pricing date: | Nov. 14
|
| Stock symbol: | Toronto: PDL
|
| Stock price: | C$1.37 at close Nov. 13
|
| Market capitalization: | C$129.13 million
|
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