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PALISADES ANNOUNCES CLOSING OF $ 8,323,200 SECURED CONVERTIBLE NOTES NON-BROKERED PRIVATE PLACEMENT WITH STRATEGIC INVESTOR
PALISADES ANNOUNCES CLOSING OF $ 8,323,200 SECURED CONVERTIBLE NOTES NON-BROKERED PRIVATE PLACEME...
About this update from Palisades Goldcorp Ltd.
[{"type":"text","content":"\n\n\n\n PALISADES ANNOUNCES CLOSING OF $ 8,323,200 SECURED CONVERTIBLE NOTES NON-BROKERED PRIVATE PLACEMENT WITH STRATEGIC INVESTOR\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n May 21, 2025\n \n\n /CNW/ -\n \n Palisades Goldcorp Ltd.\n \n (TSXV: PALI) (\"\n \n Palisades\n \n \" or the\n \n \"\n \n\n Company\n \n \") announces the closing of a non-brokered private placement of secured convertible notes (the \"\n \n Notes\n \n \") for aggregate gross proceeds of\n \n C$8,323,200\n \n (the \"\n \n Offering\n \n \"). The Company will issue two Notes, each in the principal amount of\n \n C$4,161,600\n \n . The Notes will accrue interest at 10% per annum payable every 6 months. Upon agreement of the Company and holder, the interest payment may be payable in shares of the Company (\"\n \n Common Shares\n \n \").\n \n\n\n\n\n\n\n\n\n Note 1 will be for a period of 6 months and can be extended for two additional periods of 6 months upon agreement of the Company and holder, and subject to the prior approval of TSX Venture Exchange. Note 2 will be for a period of 12 months and may be extended for an additional 12-month period upon agreement of the Company and holder, and subject to the prior approval of TSX Venture Exchange. The Notes are convertible at\n \n C$1.50\n \n per Common Share at any time prior to maturity, the Company has the option to repay the Notes at any time prior to maturity without penalty and each Note will be secured by 6,650,000 New Found Gold Corp (\"\n \n NFG\n \n \") shares in the event that Palisades ceases to hold at least 20% of the issued and outstanding shares of NFG.\n \n\n The Notes will be issued to a significant shareholder of the Company and no finder's fees are applicable. Should the conversion of the Notes result in the holder becoming a greater than 19.9% shareholder of Palisades, the Company will be req...