- Palladium One (PDM) has secured a C$4,252,050 non-brokered private placement financing from Glencore’s subsidiary for its nickel-copper sulphide projects
- Glencore will own about 9.99 per cent of Palladium One’s non-diluted outstanding common shares
- Palladium One will use the funds for exploration and development activities, working capital, and general and administrative expenses
- Palladium One Mining is focused on discovering environmentally and socially conscious metals for green transportation
- Palladium One (PDM) is up by 31.58 per cent trading at $0.125
Palladium One (PDM) has announced a non-brokered financing with a Glencore subsidiary.
Glencore will acquire 28,347,000 common shares at C$0.15 per share for gross proceeds of $4,252,050.
Glencore will own 9.99 per cent of Palladium One’s issued and outstanding common shares on a non-diluted basis.
Palladium One will use the proceeds for exploration and development activities, working capital, and general and administrative expenses.
Glencore will have certain customary rights, including participation rights in future equity security issuances and the right to nominate an individual to Palladium One’s technical committee.
The two companies will also sign an investor rights agreement, under which Glencore will agree to certain customary transfer and standstill restrictions.
The private placement is expected to close by April 11, 2023, subject to regulatory approval.
Palladium One Mining is focused on discovering environmentally and socially conscious metals for green transportation.
Palladium One (PDM) is up by 31.58 per cent trading at $0.125 as of 9:34 am EST.
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