By Laura Lutz
Des Moines, April 20 - Palladon Ventures Ltd. amended the terms of its previously announced private placement of units, which is now expected to raise C$8 million.
The placement will now include units of one share and one half-share warrant at C$0.30 per unit. Each whole warrant will still be exercisable at C$0.50 for two years.
When the deal priced on March 6, the company planned to sell up to 16,806,723 units at C$0.35 each for proceeds of up to C$5,882,353.
Proceeds of the non-brokered deal will be used for working capital.
Palladon is a resource company based in Salt Lake City, Utah.
| Issuer: | Palladon Ventures Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$8 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | March 6
|
| Amended: | April 20
|
| Stock symbol: | TSX Venture: PLL
|
| Stock price: | C$0.395 at close March 6
|
| Stock price: | C$0.40 at close April 20
|
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