North American Palladium announced May 26 of the completion of Cadiscor Resources in an all-share transaction.

Under the deal, Cadiscor shareholders will receive 0.33 common shares of NAP for each common share of Cadiscor.

NAP President/CEO William Bigger said the acquisition is an “important first step” into becoming a diversified metal producer.

The miner has already added the Sleeping Giant gold mine in the Abitibi region of Quebec which is in near-term production. The mine will be restarted in the fourth quarter of this year with annual production pegged at 50,000 ounces of gold.