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PALISADES ANNOUNCES CLOSING OF $8,251,800 LOAN WITH STRATEGIC INVESTOR
Palisades Goldcorp Ltd. (TSXV: PALI) ("Palisades" or the "Company") announces the closing of a loan (the "Note") for gross proceeds of C$8,251,800 (the "Loan"). The Company will issue the Note, in the principal amount of C$8,251,800. The Note will accrue interest at 15% per annum accruing annually from the date of the Note. The Note will be for a period of twelve months and will be secured by 7,850,000 New Found Gold Corp. shares.
About this update from Palisade Bio, Inc.
[{"type":"text","content":"/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/","length":99,"tagName":"p","attribs":{}},{"type":"text","content":"VANCOUVER, BC, July 30, 2025 /CNW/ - Palisades Goldcorp Ltd. (TSXV: PALI) ("Palisades" or the "Company") announces the closing of a loan (the "Note") for gross proceeds of C$8,251,800 (the "Loan"). The Company will issue the Note, in the principal amount of C$8,251,800. The Note will accrue interest at 15% per annum accruing annually from the date of the Note. The Note will be for a period of twelve months and will be secured by 7,850,000 New Found Gold Corp. shares.","length":521,"tagName":"p"},{"type":"image","alt":"Palisades Goldcorp Ltd. (CNW Group/Palisades Goldcorp Ltd.)","displaySize":"","headline":null,"caption":"Palisades Goldcorp Ltd. (CNW Group/Palisades Goldcorp Ltd.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":400,"url":"https://media.zenfs.com/en/cnwgroup.com/49e0f0234ba11bd9c5c99af6b5b237b2"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/gp5mQxkLOmbblJWFaNt5HA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTcwNTtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/49e0f0234ba11bd9c5c99af6b5b237b2","width":400,"height":400}},"href":"https://mma.prnewswire.com/media/2740767/Palisades_Goldcorp_Ltd__PALISADES_ANNOUNCES_CLOSING_OF__8_251_80.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The Note will be issued to a significant shareholder of the Company and no finder's fees are applicable.","length":108,"tagName":"p"},{"type":"text","content":"Tungsten III LLC, a company controlled by a significant shareholder of the Company (the "Lender"), will by purchasing the Note. The participation by the Lender constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities purchased by the insider, nor the consideration for the securities paid by such insider, exceeded 25% of Palisades' market capitali...