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PALISADES ANNOUNCES CLOSING OF $8,251,800 LOAN WITH STRATEGIC INVESTOR
PALISADES ANNOUNCES CLOSING OF $8,251,800 LOAN WITH STRATEGIC INVESTOR Canada NewsWire ...
About this update from Palisades Goldcorp Ltd.
[{"type":"text","content":"\n\n\n\n PALISADES ANNOUNCES CLOSING OF $8,251,800 LOAN 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 July 30, 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 loan (the \"\n \n Note\n \n \") for gross proceeds of\n \n C$8,251,800\n \n (the \"\n \n Loan\n \n \"). The Company will issue the Note, in the principal amount of\n \n C$8,251,800\n \n . 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.\n \n\n\n\n\n\n\n\n\n The Note will be issued to a significant shareholder of the Company and no finder's fees are applicable.\n \n\n Tungsten III LLC, a company controlled by a significant shareholder of the Company (the \"\n \n Lender\n \n \"), will by purchasing the Note. The participation by the Lender constitutes a \"related party transaction\" as defined under Multilateral Instrument 61-101\n \n Protection of Minority Security Holders in Special Transactions\n \n (\"\n \n MI 61-101\n \n \"). 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 capitalization. The Company expects that the closing of the Loan will occur within 21 days of this announcement and that it will not file a material change report in respect of the related party transaction at least 21 days before closing. The Company deems this circumstance reasonable in order to complete the Loan in an expeditious ...