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PALISADES ANNOUNCES THE SETTLEMENT OF CONVERTIBLE NOTE INTO COMMON SHARES
PALISADES ANNOUNCES THE SETTLEMENT OF CONVERTIBLE NOTE INTO COMMON SHARES Canada NewsWire...
About this update from Palisades Goldcorp Ltd.
[{"type":"text","content":"\n\n\nPALISADES ANNOUNCES THE SETTLEMENT OF CONVERTIBLE NOTE INTO COMMON SHARES\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\nCanada NewsWire\n\n\nVANCOUVER, BC, Dec. 10, 2025 /CNW/ - Palisades Goldcorp Ltd. (TSXV: PALI) (\"Palisades\" or the \"Company\") is pleased to announce that further to its May 21, 2025 and November 11, 2025 news releases, the Company and Tungsten III LLC, a company owned or controlled by Michael Parker, have agreed to settle the amount owing pursuant to the secured convertible note in the principal amount of C$4,161,600 (the \"Note\") into common shares of the Company (the \"Settlement\").\n\n\n\n\n\n\n\nPursuant to the Settlement, the principal amount of the outstanding debt under the Note will be settled through the issuance of 3,356,129 common shares of the Company (\"Common Shares\") at the price of $1.24 per Common Share equal to the conversion price in the Note (adjusted from $1.50 per share as a result of its return of capital transaction completed on September 17, 2025, in accordance with the terms of the Note). All additional amounts owing as accrued aggregate interest incurred pursuant to the Note will be paid in cash. The Settlement remains subject to the final approval of the TSX Venture Exchange.  Following the Settlement, the Company has one remaining secured convertible note in the principal amount of C$4,161,600, also convertible at $1.24 per Common Share, which matures on May 21, 2026 (the \"Second Note\") unless extended for an additional 12-month period pursuant to the terms of the Second Note.\nPrior to the completion of the Settlement, Michael Parker held, directly or indirectly, beneficial ownership of, or power to exercise control or direction over a total of 10,900,000 common shares, representing approximately 16.91% of the issued and outstanding common shares on a non-diluted basis, and as such, the Settlement will constitute a \"related party transaction\" as defined under Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company inten...