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Palladium One Announces Closing of Oversubscribed Financing Totalling C$4.95 Million
Toronto, Ontario--(Newsfile Corp. - December 23, 2022) - Palladium One Mining Inc. ( TSXV: PDM ...
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[{"type":"text","content":"Palladium One Announces Closing of Oversubscribed Financing Totalling C$4.95 MillionToronto, Ontario--(Newsfile Corp. - December 23, 2022) - Palladium One Mining Inc. (TSXV: PDM) (OTCQB: NKORF) (FSE: 7N11) (the \"Company\" or \"Palladium One\") is pleased to announce that it has closed its previously announced private placement financing totaling $4.95 million (the \"Offering\")The Offering consisted of: (i) a brokered private placement with aggregate proceeds of $4,200,000 (the \"Brokered Offering\") and (ii) a non-brokered private placement with aggregate proceeds of $750,000 (the \"Non-Brokered Offering\"). Under the Brokered Offering, the Company issued 21,000,000 units (the \"FT Units\") at a price of $0.20 per FT Unit. Each FT Unit consists of one common share in the capital of the Company (a \"Common Share\" and each Common Share comprising a FT Unit, a \"FT Share\") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a \"FT Warrant\"). Each FT Share and FT Warrant will qualify as a \"flow-through share\" as defined in subsection 66(15) of the Income Tax Act (Canada). Each FT Warrant entitles the holder thereof to purchase one non flow-through Common Share (a \"Warrant Share\") at an exercise price of $0.20 for a period of 36 months. Under the Non-Brokered Offering, the Company issued 5,000,000 units (the \"NB Units\") at a price of $0.15 per NB Unit. Each NB Unit consists of one Common Share (each, an \"NB Share\") and one-half of one Common Share purchase warrant (each whole common share purchase warrant, an \"NB Warrant\"), and each NB Share and NB Warrant will qualify as a \"flow-through share\" as defined in subsection 66(15) of the Income Tax Act (Canada). Each NB Warrant will entitle the holder thereof 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: \"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 a successful $4.2 million raise. We are thankful for our existing shareholders and welcome our new shareholders through this f...