Palladon Ventures Ltd. Announces Non-Brokered Private Placement Financing
SALT LAKE CITY, UTAH -- Palladon Ventures Ltd. (TSX VENTURE: PLL)(FRANKFURT: PV-1) is pleased to announce a non-brokered private placement (“the Offering”).
The Offering consists of up to 16,806,723 units priced at CAD$0.35 per unit for gross proceeds of CAD$5,882,353. Each unit consists of one common share plus one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of CAD$0.50 for a period of 24 months from closing. Palladon has agreed to pay a finders fee of 10% on gross proceeds.
Net proceeds of the Offering will be used for working capital.
The offering is subject to the approval of the TSX Venture Exchange.
On Behalf of the Board of Directors,
Donald G. Foot, Jr., President & Chief Operating Officer
Palladon Ventures Ltd. is a junior resource company focused on building production facilities at the Comstock/Mountain Lion iron mine in Iron County, Utah. Palladon also holds gold and copper exploration projects in Nevada, Utah and Argentina.
The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of the contents hereof.
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