Palladium One closes $15-million bought deal financing

Palladium One Mining Inc. [PDM-TSXV; NKORF-OTC; 7N1-FSE] closed its previously announced bought deal financing of $15,009,000 of securities of the company. The offering was underwritten on a bought deal basis by a syndicate of underwriters led by Sprott Capital Partners LP and including Mackie Research Capital Corp.

The offering consisted of the prospectus offering of 43.1 million units of the company at a price of 29 cents per unit for gross proceeds of $12,499,000; the brokered private placement of 1.5 million units of the company issued on a flow-through basis at a price of 34 cents per FT unit for gross proceeds of $510,000; and the brokered private placement of 5 million units of the company issued on a charity flow-through basis at a price of 40 cents per charity FT unit for gross proceeds of $2-million. Each unit consists of one common share and one-half of one warrant. Each FT unit and charity FT unit consists of one share and one-half of one warrant, each issued on a flow-through basis under the Income Tax Act (Canada). Each warrant is good to buy one non flow-through share at an exercise price of 45 cents until February 24, 2023.

The offering is subject to final acceptance of the TSX Venture Exchange which has conditionally accepted the offering.

Palladium One Mining is targeting district-scale platinum-group-element-copper-nickel deposits in Finland and Canada. Its flagship project is the Lantinen Koillismaa Project, a palladium-dominant platinum-group-element-copper-nickel project in north-central Finland. Exploration at LK is focused on targeting disseminated sulphides along 38 km of favourable basal contact and building on an established NI 43-101 open-pit resource.