/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Feb. 10,
2025 /CNW/ - Palisades Goldcorp
Ltd. (TSXV: PALI) ("Palisades" or the
"Company") is pleased to announce that it has
arranged a non-brokered private placement financing (the
"Non-Brokered Private Placement") of 1,436,365 Shares of the
Company ("Shares") at a price of $1.74 per Share for aggregate gross proceeds of
$2,499,275. The Non-Brokered
Private Placement is fully allocated and is being taken by one
shareholder. It is expected to close on or about February 21, 2025.
Collin Kettell, Founder &
Chief Executive Officer, stated: "This strategic financing will
further strengthen the Company's balance sheet, adding to the more
than $130 million of cash and
marketable securities held in the Palisades portfolio. We remain
focused on seeking and evaluating investment opportunities in the
junior resource space that offer our shareholders asymmetric
returns, and we are encouraged by the recent breakout in the TSX
Venture Exchange. The Palisades portfolio is designed to provide
unparalleled leverage to an upside move in junior equities and
given gold's sustained move over the past several months, we
believe such a move is forthcoming."
Proceeds from the Non-Brokered Private Placement will be used
for general working capital purposes. All securities to be issued
in connection with the Non-Brokered Private Placement will be
subject to a statutory hold period of four months in accordance
with applicable securities legislation. The Non-Brokered Private
Placement is subject to the receipt of all necessary approvals,
including acceptance by the TSX Venture Exchange.
The securities described herein have not been, and will not be,
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities
laws, and may not be offered or sold within the United States except in compliance with
the registration requirements of the U.S. Securities Act and
applicable state securities laws or pursuant to available
exemptions therefrom. This release does not constitute an
offer to sell or a solicitation of an offer to buy of any
securities in the United
States.
About Palisades Goldcorp Ltd.
Palisades Goldcorp Ltd. is a resource investment company focused
on junior companies in the resource and mining sector. Palisades
seeks to acquire equity participation in pre-initial public
offering and early-stage public resource companies with undeveloped
or undervalued high-quality projects. Palisades 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.
Palisades 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
Palisades holds larger positions. Palisades 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 21.64% interest in New Found Gold Corp. (TSXV: NFG).
Neither the TSX Venture Exchange nor its Regulatory
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.
Cautionary Statements Regarding Forward Looking
Information
This news release contains certain "forward-looking
information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable
securities legislation. Forward-looking statements are frequently,
but not always, identified by words such as "expects",
"anticipates", "believes", "intends", "estimates", "potential",
"possible", and similar expressions, or statements that events,
conditions, or results "will", "may", "could", or" should" occur or
be achieved. All statements, other than statements of historical
fact, included herein, without limitation, statements relating to
the size and use of proceeds of the Non-Brokered Private
Placement, the timing and ability of the Company to
close the Non-Brokered Private Placement, including obtaining
approval of the Non-Brokered Private Placement from
the TSX Venture Exchange, and the potential of an
upside move in junior equities, including any benefits
derived therefrom, are forward-looking statements. There can
be no assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements reflect
the beliefs, opinions and projections on the date the statements
are made and are based upon a number of assumptions and estimates
that, while considered reasonable by Palisades, are inherently
subject to significant business, economic, competitive, political
and social uncertainties and contingencies. Many factors, both
known and unknown, could cause actual results, performance or
achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied
by such forward-looking statements and the parties have made
assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation, the ability to
obtain the necessary approvals, including acceptance by the TSX
Venture Exchange, and changes in general economic, market
and business conditions. Readers should not
place undue reliance on the forward-looking statements and
information contained in this news release concerning these items.
Palisades and Radio Fuels do not assume any obligation to update
these forward-looking statements should they change, except as
required by applicable securities laws.
SOURCE Palisades Goldcorp Ltd.
