United States. Any Failure to Comply with This Restriction May Constitute a Violation of U.s. Securities Laws. Palisades Ventures Inc. Palisades Updates Status of Business Transaction
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PALISADES VENTURES INC.
PALISADES UPDATES STATUS OF BUSINESS TRANSACTION
Vancouver, British Columbia – June 20, 2017 – Palisades Ventures Inc. ( TSX.V: PSV) (“Palisades”) is pleased
to announce that further to its latest news release dated June 1, 2017 regarding the proposed business combination
with Intermont Exploration, LLC and 1027344 B.C. Ltd. (the “Transaction”), the TSX Venture Exchange (“ TSX-
V”) has granted conditional approval of the Transaction.
Palisades also wishes to provide an update to certain information contained in its Filing Statement dated May 29,
2017. The Filing Statement is available on SEDAR.
Regarding the securities to be escrowed on closing of the Transaction , 9,169,600 common shares of Palisades held
by principals and 830,400 common shares o f Palisades held by non-principals will be placed in TSX-V Tier 2 Value
Escrow. The Palisades shares placed in TSX-V Tier 2 Value Escrow will be held in escrow by CST Trus t Company,
which will release them as follows:
Percentage Release Date
10% At the time of TSX-V Bulletin
15% 6 months from TSX-V Bulletin
15% 12 months from TSX-V Bulletin
15% 18 months from TSX-V Bulletin
15% 24 months from TSX-V Bulletin
15% 30 months from TSX-V Bulletin
15% 36 months from TSX-V Bulletin
In addition, 495,270 common shares held by Paul Reynolds, a proposed director of Palisades, will be placed in TSX-
V Tier 1 Value Escrow on closing of the Transaction . The Palisades shares placed in TSX -V Tier 1 Value Escrow
will be held in escrow by CST Trust Company, which will release them as follows:
Percentage Release Date
25% At the time of TSX-V Bulletin
25% 6 months from TSX-V Bulletin
25% 12 months from TSX-V Bulletin
25% 18 months from TSX-V Bulletin
Palisades also announces an update to the information regarding the use of funds on closing of the Transaction.
Upon completion of the Transaction, Palisades expects to use its available funds as follows:
Available Funds and
Principal Uses
Time
Period (Est.)
Allocation assuming
minimum financing, USD
(Est.)
Allocation assuming
maximum financing, USD
(Est.)
Estimated available funds as
at April 30, 2017
16,028 16,028
Net Proceeds from Palisades
Private Placement(1)
1,057,500 1,410,000
Working Capital Deficit Immediate (189,000) (189,000)
Opening Working Capital 884,528 1,237,028
General Administrative
Working Capital
Requirements
12 months 333,325 357,825
Work Program on Hurricane 12 months 374,750 374,750
Hurricane Option Payments 12 months 25,000 25,000
Staking 12 months 30,000 30,000
Holding Costs on Goldrun
Project
12 months 45,000 45,000
Total 12 months 808,075 832,575
Unallocated working capital 76,453 404,453
TOTAL 884,528 1,237,028
Note:
(1) These amounts assume that the finder’s fee of 6.0% is applicable to all Units issued.
Palisades has also filed an amended and restated technical report on the Hurricane Property to correct certain minor
deficiencies. The disclosure on the Hurricane Proper ty contained in Palisades’ Filing Statement remains correct and
unchanged.
For further information about Palisades and the Transaction, please contact:
Gordon Steblin
Palisades Ventures Inc.
#2300 – 1066 West Hastings Street, Vancouver, B.C. V6E 3X2
Tel: 778 888-9710
Completion of the T ransaction is subject to a number of conditions, including final acceptance from the TSX
Venture Exchange. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the Filing Statement , any information released with respect to
the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of
Palisades should be considered highly speculative.
The TSX Venture Exchange has in no way passed upon the merits of the proposed T ransaction and has neither
approved nor disapproved the contents of this press release.
Neither the TSX Venture Exchange, not its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward -looking statements that are subject to risks and uncertainties. All s tatements
within, other than statements of historical fact, are to be considered forward looking. Although Palisades believes
the expectations expressed in such forward- looking statements are based on reasonable assumptions, such
statements are not guarant ees of future performance and actual results or developments may differ materially from
those in forward- looking statements. Factors that could cause actual results to differ materially from those in
forward-looking statements include market prices, explor ation successes, continued availability of capital and
financing, and general economic, market or business conditions. There can be no assurances that such statements
will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do
not assume any obligation to update any forward-looking statements except as required under the applicable laws.