surfer44
9月前
Palisades Announces Completion of Return of Capital Transaction and Resumption of Trading
September 17, 2025 – Vancouver, BC – Palisades Goldcorp Ltd. (TSXV: PALI) (“Palisades”or the “Company”) announces the completion of the return of capital transaction (“Return of Capital Transaction”) by way of court-approved plan of arrangement (“Arrangement”). As part of the Arrangement, Palisades:
reclassified and redesignated its existing common shares (the “Old Palisades Shares”) as Class A common shares (the “Class A Shares”);
created a new class of common shares (the “New Palisades Shares”);
exchanged each Class A Share for one New Palisades Share;
and each common shareholder of Palisades of record as at the close of business on September 15, 2025 received 0.1052 common shares of New Found Gold Corp. (TSXV: NFG) (“New Found Gold”).
The New Palisades Shares will resume trading on the TSX Venture Exchange (“TSXV”) today, September 17, 2025 at the open of the markets under the symbol “PALI” but will carry a new CUSIP number (69639G108). The Company’s outstanding common share purchase warrants (each, a “Warrant”) will resume trading on the TSXV under the symbol “PALI.WT”. In accordance with the adjustment provisions contained in the warrant indenture governing the Warrants, the exercise price of each Warrant has been adjusted to entitle each warrantholder, upon exercise, to purchase 0.060538 of a New Palisades Share at an exercise price of $0.40. Accordingly, for illustrative purposes only, approximately 16.52 Warrants would be required to acquire one New Palisades Share for aggregate exercise price consideration of $6.61 (subject to the warrant indenture, including the treatment of fractional shares). This reflects the distribution of 6,781,919 common shares of New Found Gold (“NFG Shares”) with an aggregate approximate value of $18,989,373.
“We are very pleased to have successfully completed this return of capital transaction, which unlocks additional value for our shareholders while preserving their ongoing participation in Palisades,” said Collin Kettell, CEO of Palisades. “This structure ensures that our shareholders directly benefit from our position in New Found Gold, while at the same time allowing Palisades to continue advancing its business strategy and growth objectives.”
Further details regarding the Arrangement and the Return of Capital Transaction are set out in the management information circular dated July 21, 2025 and related materials, which are available under the Company’s profile at www.sedarplus.ca.
Early Warning Requirements
Pursuant to the Arrangement, Palisades distributed 6,781,919 common shares of New Found Gold to the shareholders of record as at the close of business on September 15, 2025. Immediately prior to the distribution, Palisades owned and exercised control over and aggregate of 43,386,425 NFG Shares, representing an interest of approximate 17.85% of the issued and outstanding voting securities of New Found Gold. As a result of the distribution, Palisades owns and exercises control over an aggregate of 36,604,506 NFG Shares representing approximately 15.06%. The foregoing disclosure is being disseminated pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting. A copy of the Company’s early warning report will be available under the Company’s profile at www.sedarplus.ca. A copy of the report may also be obtained by contacting Collin Kettell, Chief Executive Officer of the Company, via the contact information below for the Company.
About Palisades Goldcorp Ltd.
Palisades Goldcorp Ltd. is a Canadian company incorporated in the province of British Columbia acting primarily as a resource investment company and merchant bank 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 is focused on providing retail and institutional investors with exposure in the junior resource space. The Company primarily 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. At present, and after the acquisition of Palisades Investments Ltd (formerly Radio Fuels Energy Corp.) in February 2025, Palisades has a portfolio of equity investments, or securities convertible into equity investments, in over 125 junior resource issuers. Through subsidiaries, Palisades holds exploration properties in Nevada and a uranium exploration property in Canada. The Company owns 100% of Made in America Gold Corp., which ranks as the largest junior mineral claim holder in the State of Nevada, as well as 100% of Radio Fuels Resources Corp., which owns the Eco Ridge Uranium Project in Elliot Lake, Ontario. The common shares of the Company are listed and posted for trading on the TSXV under the symbol “PALI”. Palisades’ management team identifies highly prospective assets in politically safe jurisdictions and seeks to unlock their value by providing strategic investments, proven technical skills, global knowledge, and increased access to industry relationships.
For further information regarding Palisades, please contact:
Collin Kettell,
Chief Executive Officer and Director
Phone: +1 (845) 535-1486
Email: collin@palisades.ca
surfer44
9月前
Palisades Provides Update on Return of Capital Transaction
TSX-V:PALI
September 8, 2025 – Vancouver, BC – Palisades Goldcorp Ltd. (TSXV: PALI) (“Palisades” or the “Company”) is pleased to announce that the Company has obtained the final order of the Supreme Court of British Columbia approving the previously announced plan of arrangement (the “Arrangement”) and has fixed Monday September 15, 2025 has the record date for the distribution of the New Found Gold Corp (“New Found”) common shares to the Company's shareholders (the “Distribution Record Date”). The Company received shareholder approval for the Arrangement, which contemplates the return of capital transaction at its annual and special meeting held on August 27, 2025.
The Arrangement is expected to become effective at 12:01 a.m. Pacific Time on September 17, 2025 (the “Payable Date”). As promptly as practicable thereafter, Odyssey Trust Company, in its capacity as transfer agent for Palisades, and Computershare Trust Company of Canada, the transfer agent for New Found Gold Corp., will deliver the consideration to registered Palisades shareholders of record as of the Distribution Record Date, all in accordance with the terms of the Arrangement and subject to the final approval of the TSXV.
Pursuant to the return of capital distribution, Palisades anticipates distributing, on a pro-rata basis, common shares of New Found Gold Corp. currently held by the Company, having an aggregate market value of approximately $20 million.
Further details regarding the Arrangement and the return of capital distribution are set out in the management information circular dated July 21, 2025 and related materials, which are available under the Company’s profile at www.sedarplus.ca.
The Company intends to issue a further news release containing additional details in connection with the Arrangement.
About Palisades Goldcorp Ltd.
Palisades Goldcorp Ltd. is a Canadian company incorporated in the province of British Columbia acting primarily as a resource investment company and merchant bank 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 is focused on providing retail and institutional investors with exposure in the junior resource space. The Company primarily 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. At present, and after the acquisition of Palisades Investments Ltd (formerly Radio Fuels Energy Corp.) in February 2025, Palisades has a portfolio of equity investments, or securities convertible into equity investments, in over 125 junior resource issuers. Through subsidiaries, Palisades holds exploration properties in Nevada and a uranium exploration property in Canada. The Company owns 100% of Made in America Gold Corp., which ranks as the largest junior mineral claim holder in the State of Nevada, as well as 100% of Radio Fuels Resources Corp., which owns the Eco Ridge Uranium Project in Elliot Lake, Ontario. The common shares of the Company are listed and posted for trading on the TSXV under the symbol “PALI”. Palisades’ management team identifies highly prospective assets in politically safe jurisdictions and seeks to unlock their value by providing strategic investments, proven technical skills, global knowledge, and increased access to industry relationships.
For further information regarding Palisades, please contact:
Collin Kettell,
Chief Executive Officer and Director
Phone: +1 (845) 535-1486
Email: collin@palisades.ca
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