VANCOUVER, BC, April 22, 2024 /CNW/ - Palisades Goldcorp Ltd.
(TSXV: PALI) ("Palisades" or the "Company") is
pleased to announce that New Found Gold Corp. ("New Found"),
a significant equity investee of Palisades within the meaning of
applicable Canadian securities legislation, has entered into a
property purchase agreement with Labrador Gold Corp.
("LabGold") providing for the sale by LabGold to New Found
(the "Transaction") of a 100% interest in LabGold's Kingsway
Project (the "Kingsway Project"), which adjoins New Found's
100%-owned Queensway project in Newfoundland and Labrador, as well as certain related assets of
LabGold (together with the Kingsway Project, the "Purchased
Assets").
For further details regarding the Transaction, including
information on the Kingsway Project and a map thereof, and
consideration to be exchanged for the Purchased Assets, please see
New Found's news release dated April 22, 2024, accessible on New
Found's website (www.newfoundgold.ca) and under New Found's profile
on SEDAR+ at www.sedarplus.ca.
About Palisades Goldcorp
Ltd.
Palisades Goldcorp Ltd. is a resource investment company
focused on junior companies in the resource and mining sector. The
Company seeks to acquire equity participation in pre-initial public
offering and early-stage public resource companies with undeveloped
or undervalued high quality projects. The Company focuses on
companies that are in need of financial resources to realize their
full potential, are undervalued in capital markets, and/or operate
in jurisdictions with low to moderate local political risk. The
Company expects to continue to make investments, pursuant to its
dual investment strategy, to achieve broad sector exposure with
upside in the event of appreciation in mineral commodities prices,
while also providing the potential to realize appreciation in net
asset values as a result of discoveries by issuers in which the
Company holds larger positions. The Company is listed on the TSX
Venture Exchange under the stock symbol "PALI". Palisades holds a
diverse portfolio of securities and derivatives, among which it
holds a 24.5% interest in New Found Gold Corp. (TSX-V: NFG).
On behalf of the Board of Directors
"Collin Kettell"
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Palisades Goldcorp Ltd.
