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Palladium One Closes $4.35 Million Non-Brokered Private Placement of Flow-Through Shares
Toronto, Ontario--(Newsfile Corp. - December 16, 2021) - Palladium One Mining Inc. (TSXV: PD...
About this update from Gt Resources Inc
[{"type":"text","content":"Palladium One Closes $4.35 Million Non-Brokered Private Placement of Flow-Through SharesToronto, Ontario--(Newsfile Corp. - December 16, 2021) - Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (OTCQB: NKORF) (the \"Company\" or \"Palladium One\") is pleased to announce that it has closed its previously announced non-brokered private placement financing of 15,000,000 common shares in the capital of the Company that will qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (collectively, the \"Flow-Through Shares\") at a price of C$0.29 per Flow-Through Share for aggregate gross proceeds of C$4,350,000 (the \"Offering\"). The gross proceeds from the Offering will be used by the Company to incur eligible \"Canadian exploration expenses\" that qualify as \"flow-through mining expenditures\" as both terms are defined in the Income Tax Act (Canada) (the \"Qualifying Expenditures\") on or before December 31, 2022 (or such other period as may be permissible under applicable tax legislation), and to renounce all the Qualifying Expenditures in favour of the subscribers of the Flow-Through Shares effective on or before December 31, 2021. The Offering was made by way of private placement in Canada pursuant to applicable exemptions from the prospectus requirements under applicable Canadian securities laws. The securities issued under the Offering are subject to a hold period under applicable Canadian securities laws which will expire on April 17, 2022. The Offering is subject to final acceptance of the TSX Venture Exchange.Desjardins Capital Markets (the \"Finder\") acted as a finder in connection with the Offering, and Sprott Capital Partners LP and Echelon Capital Markets acted as financial advisors (the \"Advisors\"). In consideration for their services in connection with the Offering, the Company paid the Finder and Advisors an aggregate cash fee of $261,000 and issued to the Finder and Advisors 900,000 non-transferable common share purchase warrants of the Company (the \"Compensation Warrants\"). Each Compensation Warrant will entitle the holder to purchase one common share in the capital of the Company at a price of $0.29 per share until December 16, 2023.The securities referred to in this news release have not been, nor will they be, registered under the United States Securities...