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Palladium One Announces Exercise of Anti-Dilution Right by Strategic Shareholder
Toronto, Ontario--(Newsfile Corp. - May 15, 2023) - Palladium One Mining  (TSXV: PDM) (FSE:...
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[{"type":"text","content":"Palladium One Announces Exercise of Anti-Dilution Right by Strategic ShareholderToronto, Ontario--(Newsfile Corp. - May 15, 2023) - Palladium One Mining (TSXV: PDM) (FSE: 7N11) (OTCQB: NKORF) (\"Palladium One\" or the \"Company\") is pleased to announce that Glencore plc (\"Glencore\"), a large shareholder of the Company through its wholly-owned subsidiary, has elected to exercise its pro-rata equity participation rights and has subscribed for 7,439,071 common shares in the capital of the Company (the \"Common Shares\"). The Common Shares were issued at a price of $0.11 per Common Share for aggregate gross proceeds of $818,297.80 (the \"Financing\"). Following the Financing, Glencore holds approximately 9.99% of the Company's equity on a partially diluted basis.Pursuant to the terms of the investor rights agreement entered into between Glencore and the Company (the \"Investor Rights Agreement\"), Glencore elected to exercise its pre-emptive rights to maintain its ownership interest in the Company in respect of the Company's recently completed acquisition of MetalCorp Limited.All Common Shares issued under the Financing are subject to a four-month hold period from the closing date. No fees were paid in connection with Glencore's investment.About Palladium OnePalladium One Mining Inc. (TSXV: PDM) is focused on discovering environmentally and socially conscious Metals for Green Transportation. A Canadian mineral exploration and development company, Palladium One is targeting district scale, platinum-group-element (PGE)-copper-nickel deposits in Canada and Finland. The Läntinen Koillismaa (LK) Project in north-central Finland, is a PGE-copper-nickel project that has existing NI43-101 Mineral Resources, while both the Tyko and Canalask high-grade nickel-copper projects are located in Ontario and the Yukon, Canada, respectively. Follow Palladium One on LinkedIn, Twitter, and at www.palladiumoneinc.com.ON BEHALF OF THE BOARD\"Derrick Weyrauch\"President & CEO, DirectorFor further information contact:Derrick Weyrauch, President & CEOEmail: [email protected] Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This press release is not an offer or a solicitation of an offe...