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PALISADES ANNOUNCES SETTLEMENT OF DISPUTE WITH THREED CAPITAL INC. & 1313366 ONTARIO INC.
PALISADES ANNOUNCES SETTLEMENT OF DISPUTE WITH THREED CAPITAL INC. & 1313366 ONTARIO INC. ...
About this update from New Found Gold Corp
[{"type":"text","content":"\n \n \n \n PALISADES ANNOUNCES SETTLEMENT OF DISPUTE WITH THREED CAPITAL INC. & 1313366 ONTARIO INC.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n PALISADES ANNOUNCES SETTLEMENT OF DISPUTE WITH THREED CAPITAL INC. & 1313366 ONTARIO INC.\n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n June 6, 2024\n \n \n /CNW/ - Palisades Goldcorp Ltd. (TSXV: PALI) (\"\n \n Palisades\n \n \" or the \"\n \n Company\n \n \") announces that it has reached a settlement concerning a lawsuit filed by ThreeD Capital Inc. and 1313366 Ontario Inc. (together, the \"\n \n Plaintiffs\n \n \") against the Company, Mr.\n \n Collin Kettell\n \n , and New Found Gold Corp. (\"\n \n NFG\n \n \" together, the \"\n \n Defendants\n \n \") in the Ontario Superior Court of Justice in\n \n Toronto, Ontario\n \n . To avoid the expense, burden and uncertainty associated with litigation and to resolve the litigation completely, the parties entered into a settlement agreement, without any admission of wrongdoing.\n \n \n \n \n \n \n \n \n \n As part of the settlement, the Defendants have agreed to provide a total of 3,750,000 common shares in the capital of NFG to the Plaintiffs. Palisades has agreed to transfer 3,380,000 NFG common shares to the Plaintiffs and NFG has agreed to issue the balance of 370,000 NFG common shares, the latter of which is subject to approval of the TSX Venture Exchange and the NYSE American LLC. The 370,000 common shares issued to the Plaintiffs from NFG, of which ThreeD Capital Inc. will receive 285,429 common shares, will be subject to a four month and a day hold period pursuant to applicable securities laws.\n \n \n ThreeD Capital Inc. will receive a total of 2,892,863 NFG common shares and 1313366 Ontario Inc. will receive a total of 857,137 NFG common shares. Palisades will file a Form 45-102F1 –\n \n Notice of Intention to Distribute Securities under Section 2.8 of NI 45-102 Resale of Securities\n \n on SEDAR+ with respect to its transfer of NFG common shares to the Plaintiffs.\n \n \n \n About Palisades Goldcorp Ltd.\n \n ...