* To raise about C$50 mln in bought deal financing
* To raise C$15 mln through offering of flow-through shares
* To raise C$35 mln through offering units
* To use funds for exploration, development activities
Sept 22 (Reuters) - Precious metals company North American Palladium Ltd said it would raise about C$50 million by issuing flow-through shares as well as units on a bought deal basis.
The company said it would issue 4 million flow-through shares to a group of underwriters at C$3.75 a share, for a total of C$15 million. The deal is expected to close by Oct. 8.
In a separate release, the company said it would raise up to C$35 million by issuing 11.2 million units at C$3.15 apiece. Each unit will consist of one common share and one half of one common share purchase warrant.
Proceeds from the unit offering will be used for exploration and development expenses at the company's Lac des Iles property and Sleeping Giant gold mine, as well as for general corporate purposes, including future acquisitions, the company said.
Shares of the company closed at C$3.38 Monday on the Toronto Stock Exchange.
(Reporting by Isheeta Sanghi in Bangalore; Editing by Ratul Ray Chaudhuri) Keywords: NORTHAMERICANPALLADIUM/ (isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* To raise C$15 mln through offering of flow-through shares
* To raise C$35 mln through offering units
* To use funds for exploration, development activities
Sept 22 (Reuters) - Precious metals company North American Palladium Ltd said it would raise about C$50 million by issuing flow-through shares as well as units on a bought deal basis.
The company said it would issue 4 million flow-through shares to a group of underwriters at C$3.75 a share, for a total of C$15 million. The deal is expected to close by Oct. 8.
In a separate release, the company said it would raise up to C$35 million by issuing 11.2 million units at C$3.15 apiece. Each unit will consist of one common share and one half of one common share purchase warrant.
Proceeds from the unit offering will be used for exploration and development expenses at the company's Lac des Iles property and Sleeping Giant gold mine, as well as for general corporate purposes, including future acquisitions, the company said.
Shares of the company closed at C$3.38 Monday on the Toronto Stock Exchange.
(Reporting by Isheeta Sanghi in Bangalore; Editing by Ratul Ray Chaudhuri) Keywords: NORTHAMERICANPALLADIUM/ (isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.