Palladium One Mining Inc. (TSX.V: PDM) has recently concluded its private placement financing, collecting $4.95 million. Derrick Weyrauch, the CEO of Palladium One, expressed his joy regarding the feat and remarked: “We are extremely pleased to have finished this financing which will enable us to launch our Green Transportation copper-nickel-PGE projects at the beginning of 2023. Despite the difficult market conditions, we exceeded our initial goal of $3.0 million to a successful $4.2 million. We are grateful to our existing shareholders and welcome new shareholders participating in this financing.” The gross proceeds from the Brokered Offering and Non-Brokered Offering are planned further to develop the company’s mineral exploration properties in Ontario. 

The company organized the private placement offering in two parts: a brokered private placement and a non-brokered private placement. In the brokered private placement, the company is issuing 21,000,000 units at a price of $0.20 per unit, each unit containing one common share and one-half of a common share purchase warrant that meets the criteria of a “flow-through share” as outlined in the Canadian Income Tax Act. The warrants give the holder the right to buy one non-flow-through common share at an exercise price of $0.20 for a time period of 36 months. The non-brokered private placement consists of 5,000,000 units at a price of $0.15 per unit, each unit including one common share and one-half of a common share purchase warrant also qualifying as a “flow-through share” under the Canadian Income Tax Act. The warrants entitle the holder to buy one warrant share at an exercise price of $0.20 for 24 months from the date of issuance.

Echelon Capital Markets led the syndicate of agents during the completion of the Brokered Offering, with other members including Sprott Capital Partners LP and Research Capital Corporation. In exchange for their services, the Agents received a cash compensation amounting to 6% of the total proceeds of the Brokered Offering. Moreover, they were also granted non-transferable broker warrants, equivalent to 6% of the aggregate number of FT Units issued during the Brokered Offering. Each Broker Warrant provides the holder with the right to purchase one Common Share and one-half of one Common Share purchase warrant at $0.14 per share for a period of 24 months. In addition, each Broker Unit Warrant allows the holder to obtain one Warrant Share at $0.20 per share, with a validity of 36 months. No fees were charged for the Non-Brokered Offering.