In order to dig deeper into Lac des Iles mine in Northwestern Ontario, North American Palladium has raised $100 million to finance the project.  In their recent press release dated April 28, the company said finance proceeds are intended for the development of the Offset Zone at the Lac des Iles palladium mine, north of Thunder Bay. The warrants are listed on the TSX under the symbol PDL.WT.B.

The press release is quoted as saying:

“Some may be earmarked for other capital expenditures including exploration and development at Lac des Iles and its Sleeping Giant gold mine in Quebec, for working capital requirements and for other purposes which may include future acquisitions. The cross-border bought deal public offering of 20,000,000 units at a price of $5 per unit. Each unit consists of one common share and one-half of one common share purchase warrant.”

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