Deal sells flow-through common shares at C$1.155 and C$1.164 per share
By Devika Patel
Knoxville, Tenn., July 23 - North American Palladium Ltd. said it took in C$10 million in the second tranche of a fully subscribed C$20 million private placement of stock. The deal raised C$10 million on June 19.
The company sold 8,668,009 flow-through common shares at C$1.155 per share in the first tranche. The price per share in the first tranche reflects a 7.94% premium to the June 18 closing share price of C$1.07. North American Palladium sold 8,590,328 shares at C$1.164 per share in the second tranche. The price per share in the second tranche reflects an 8.79% premium to the June 18 closing share price.
Proceeds will be used for mine expansion and exploration at the company's Lac des Iles mine 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$20 million
|
| Shares: | 17,258,337
|
| Prices: | C$1.155, C$1.164
|
| Warrants: | No
|
| Settlement dates: | June 19 (for C$10 million), July 23 (for C$10 million)
|
| Stock symbol: | Toronto: PDL
|
| Stock price: | C$1.07 at close June 18
|
| Market capitalization: | C$210.71 million
|
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