Palisades Goldcorp Ltd. ( (TSE:PALI) ) has issued an update.
Palisades Goldcorp Ltd. announced a non-brokered private placement of secured convertible notes worth US$6 million with a strategic investor. This move is intended to enhance liquidity and support future investments, while minimizing dilution. The notes, which are secured by shares in New Found Gold Corp, will help the company capitalize on market opportunities amid a disconnect between junior gold and silver equities and their underlying commodities. The transaction involves a significant shareholder, constituting a related party transaction, and aims to strengthen the company’s financial position.
More about Palisades Goldcorp Ltd.
Palisades Goldcorp Ltd. is a resource investment company focused on junior companies in the resource and mining sector. It aims to acquire equity in pre-initial public offering and early-stage public resource companies with undeveloped or undervalued high-quality projects, particularly those needing financial resources to reach their potential.
YTD Price Performance: -38.96%
Average Trading Volume: 42,377
Technical Sentiment Signal: Buy
Current Market Cap: C$48.13M
See more data about PALI stock on TipRanks’ Stock Analysis page.