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Palisades Goldcorp Ltd. ( (TSE:PALI) ) has provided an update.
Palisades Goldcorp Ltd. has announced the closing of a non-brokered private placement of secured convertible notes, raising C$8,323,200. The notes, issued to a significant shareholder, will accrue interest at 10% per annum and are convertible at C$1.50 per share. The proceeds will be used for working capital, and the transaction is classified as a ‘related party transaction’ under MI 61-101. The offering has been approved by the board and aims to provide financial flexibility, potentially impacting the company’s market positioning and stakeholder interests.
More about Palisades Goldcorp Ltd.
Palisades Goldcorp Ltd. is a resource investment company focused on junior companies in the resource and mining sector. The company aims to acquire equity in pre-IPO and early-stage public resource companies with high-quality projects that are undeveloped or undervalued. Palisades targets companies needing financial resources to reach their potential, focusing on those undervalued in capital markets or operating in regions with low to moderate political risk. The company is listed on the TSX Venture Exchange under the symbol ‘PALI’ and holds a diverse portfolio of securities and derivatives.
Average Trading Volume: 46,993
Technical Sentiment Signal: Sell
Current Market Cap: C$45.06M
For a thorough assessment of PALI stock, go to TipRanks’ Stock Analysis page.