Palladium One Closes $4.35 Million Non- Brokered Private Placement of Flow-Through Shares
Palladium One Closes $4.35 Million Non-
Brokered Private Placement of Flow-Through
Shares
Toronto, Ontario--(Newsfile Corp. - December 16, 2021) -
Palladium One Mining Inc.
(TSXV: PDM)
(FSE: 7N11) (OTCQB: NKORF) (the "
Company
" or "
Palladium One
") is pleased to announce that it
has closed its previously announced non-brokered private placement financing of 15,000,000 common
shares in the capital of the Company that will qualify as "flow-through shares" (within the meaning of
subsection 66(15) of the
Income Tax Act
(Canada)) (collectively, the "
Flow-Through Shares
") at a
price of C$0.29 per Flow-Through Share for aggregate gross proceeds of C$4,350,000 (the
"
Offering
").
The gross proceeds from the Offering will be used by the Company to incur eligible "Canadian
exploration expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the
Income Tax Act (Canada) (the "
Qualifying Expenditures
") on or before December 31, 2022 (or such
other period as may be permissible under applicable tax legislation), and to renounce all the Qualifying
Expenditures in favour of the subscribers of the Flow-Through Shares effective on or before December
31, 2021.
The Offering was made by way of private placement in Canada pursuant to applicable exemptions from
the prospectus requirements under applicable Canadian securities laws. The securities issued under the
Offering are subject to a hold period under applicable Canadian securities laws which will expire on April
17, 2022. The Offering is subject to final acceptance of the TSX Venture Exchange.
Desjardins Capital Markets (the "
Finder
") acted as a finder in connection with the Offering, and Sprott
Capital Partners LP and Echelon Capital Markets acted as financial advisors (the "
Advisors
"). In
consideration for their services in connection with the Offering, the Company paid the Finder and
Advisors an aggregate cash fee of $261,000 and issued to the Finder and Advisors 900,000 non-
transferable common share purchase warrants of the Company (the "
Compensation Warrants
"). Each
Compensation Warrant will entitle the holder to purchase one common share in the capital of the
Company at a price of $0.29 per share until December 16, 2023.
The securities referred to in this news release have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold within the United
States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable
exemption from the U.S. registration requirements. This press release does not constitute an offer for
sale of securities, nor a solicitation for offers to buy any securities in the United States, nor in any
other jurisdiction in which such offer, solicitation or sale would be unlawful. Any public offering of
securities in the United States must be made by means of a prospectus containing detailed
information about the company and management, as well as financial statements.
About Palladium One
Palladium One Mining Inc. (TSXV: PDM) is focused on discovering environmentally and socially
conscious
Metals for Green Transportation
. A Canadian mineral exploration and development
company, Palladium One is targeting district scale, platinum-group-element (PGE)-copper-nickel
deposits in leading mining jurisdictions. Its flagship project is the Läntinen Koillismaa (LK) Project in
north-central Finland, which is ranked by the Fraser Institute as one of the world's top countries for
mineral exploration and development. LK is a PGE-copper-nickel project that has existing Mineral
Resources. PDM's second project is the 2020 Discovery of the Year Award winning Tyko Project, a
high-grade sulphide, copper-nickel project located in Canada. Follow Palladium One on
,
, and at
www.palladiumone.com
.
ON BEHALF OF THE BOARD
"Derrick Weyrauch"
President & CEO, Director
For further information contact: Derrick Weyrauch, President & CEO
Email:
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Information set forth in this press release may contain forward-looking statements. Forward-looking
statements are statements that relate to future, not past events. In this context, forward-looking
statements often address a company's expected future business and financial performance, and often
contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements
that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar
expressions. By their nature, forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results, performance or achievements, or
other future events, to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors include, among others, risks
associated with project development; the need for additional financing; operational risks associated
with mining and mineral processing; fluctuations in palladium and other commodity prices; title
matters; environmental liability claims and insurance; reliance on key personnel; the absence of
dividends; competition; dilution; the volatility of our common share price and volume; and tax
consequences to Canadian and U.S. Shareholders. All of the Company's forward-looking statements
are qualified by the assumptions that are stated or inherent in such forward-looking statements,
including the assumptions listed below. Although the Company believes that these assumptions are
reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.
The key assumptions that have been made in connection with the forward-looking statements include
the following: the impact of COVID-19 on the business of the Company, and the regulatory regime
governing the business of the Company.
Forward-looking statements are made based on management's beliefs, estimates and opinions on
the date that statements are made and the Company undertakes no obligation to update forward-
looking statements if these beliefs, estimates and opinions or other circumstances should change.
Investors are cautioned against attributing undue certainty to forward-looking statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/107836