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Palladium One Announces Increased Size of Non-Brokered Private Placement to C$3,780,000
Vancouver, British Columbia--(Newsfile Corp. - November 6, 2019) - Palladium One Mining Inc. ...
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[{"type":"text","content":"\nPalladium One Announces Increased Size of Non-Brokered Private Placement to C$3,780,000Vancouver, British Columbia--(Newsfile Corp. - November 6, 2019) - Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (the \"Company\" or \"Palladium One\") is pleased to announce its intention to increase the size of its previously announced non-brokered private placement (the \"Offering\") from C$3,200,000 plus up to a 15% over-allotment to C$3,780,000. The Company will now issue up to 62,999,998 units (the \"Units\") for total gross proceeds of up to C$3,780,000 at a price of C$0.06 per Unit. Mr. Eric Sprott, is expected to participate in the Offering for C$1,200,000 or 20,000,000 Units, representing 31.7% of the Offering. Assuming the Offering is fully subscribed, Mr. Sprott's ownership interest in the issued and outstanding common shares of the Company, on a non-diluted basis, would be approximately 19.3%. Closing of the Offering, or any tranche thereof, is subject to certain customary conditions including, but not limited to, the receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange. Closing of the Offering is now expected to occur on or about November 15, 2019 (the \"Closing Date\").Each Unit will be comprised of one common share (a \"Common Share\") and one-half of one non-transferable, common share purchase warrant (each whole warrant, a \"Warrant\"), with the additional terms described below. The net proceeds from the Offering are intended to be used by the Company primarily for exploration activities on its palladium dominant, LK Project in Central Finland, its Tyco Sulphide Nickel Project in Ontario, Canada and for general, corporate and administrative purposes.All securities issued and issuable in connection with this Offering will be subject to a four-month hold period in Canada from the Closing Date. Finder's fees in respect to the Offering may be paid in cash and/or securities of the Company, subject to, and in accordance with, the policies of the TSX Venture Exchange. Warrant TermsEach Warrant shall have a term of 24-months, subject to acceleration.During the first 12-months after closing of the Offering, or any tranche thereof, the exercise price of one full Warrant shall be C$0.10 and thereafter C$0.20 per common share.Pursuant to the terms of the Warrants, if over a period of 10 c...