North American Palladium Ltd (New) PALDF

RE:Options

[alwil106]

Perhaps the reason for the price drop, some of the1,125.000 share issued to PDL directors and emplyees  might have to be sold if they can;t afford the shares , in other words if you purchase 10 options for $5.97 = $59.79 this will purchase 3.98 shares at a price of $15.

March 29, 2018

Common Shares as of the date of this Circular). As at the date of this Circular options representing the right (once vested) to acquire 1,500,000 Common Shares (representing approximately 2.58% of the Corporation’s issued and outstanding common shares) have been issued and are outstanding under the Stock Option Plan. Based on the number of Common Shares outstanding as of the date of this Circular, a total of 3,500,000 Common Shares (representing approximately 6.02% of the outstanding Common Shares of the Corporation) are currently available to be granted under the Stock