Vancouver, British Columbia--(Newsfile Corp. - December 21, 2020) - Canadian Palladium Resources Inc. (CSE: BULL) (FSE: DCR1) (OTCQB: DCNNF) ("Canadian Palladium" or the "Company") is pleased to announce that it has arranged for and closed a non-brokered private placement raising aggregate gross proceeds of $1,050,000 through 5,000,001 units (the "Units") of the Company at a price of $0.21 per Unit.
Each Unit consists of one flow-through common share of the Company (a "FT Share") and one-half of one non-flow-through common share purchase warrant (a "Warrant"). Each whole Warrant shall entitle the holder thereof to acquire one non-flow-through common share at a price of $0.30 for a period of 12 months following the closing date.
The gross proceeds from the sale of the FT Units will be used for expenditures which qualify as "Canadian exploration expenses" ("CEE") and "flow-through mining expenditures" both within the meaning of the Income Tax Act (Canada). The Company will renounce such CEE with an effective date of no later than December 31, 2020.
The Company has paid cash commissions of $73,500 and issued an aggregate of 349,998 finder's fee warrants to eligible parties. Each finder's fee warrant shall entitle the holder thereof to acquire one common share at a price of $0.30 for a period of 12 months following the closing date.
The securities issued under this private placement are subject to a hold period and may not be traded until April 22, 2021.
On behalf of the Board of Directors
Wayne Tisdale, President & Director