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An announcement from Palisades Goldcorp Ltd. ( (TSE:PALI) ) is now available.
Palisades Goldcorp Ltd. has announced the settlement of a convertible note into common shares, involving Tungsten III LLC, owned by Michael Parker. The settlement converts a principal amount of C$4,161,600 into 3,356,129 common shares, with additional interest paid in cash, subject to TSX Venture Exchange approval. This transaction increases Michael Parker’s ownership to 21.02% of Palisades’ common shares, making him a ‘control person’ under securities laws. The settlement is considered a ‘related party transaction’ but is exempt from certain valuation and approval requirements. This move could impact the company’s market dynamics and shareholder structure.
More about Palisades Goldcorp Ltd.
Palisades Goldcorp Ltd. is a Canadian resource investment company and merchant bank focused on junior companies in the resource and mining sector. It aims to acquire equity in pre-IPO and early-stage public resource companies with high-quality projects. The company targets undervalued firms needing financial resources and operates in jurisdictions with low to moderate political risk. Palisades provides exposure in the junior resource space to retail and institutional investors, with a portfolio of investments in over 125 junior resource issuers.
Average Trading Volume: 63,804
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$112.1M
For detailed information about PALI stock, go to TipRanks’ Stock Analysis page.