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North American Palladium in fundraising mode

North American Palladium announced a public offering of securities to bring in between $50 million and $75 million. The owners of the Lac des Iles Mine, near Thunder Bay, say it’s a two-tranche offering.
Northern Ontario Business Staff
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Getting optimum use of a new shaft at Lac des Iles (LDI) is on the collective minds at North American Palladium heading into 2014.

North American Palladium announced a public offering of securities to bring in between $50 million and $75 million.

The owners of the Lac des Iles Mine, near Thunder Bay, say it’s a two-tranche offering. The first will raise $30 million and the second between $20 million and $45 millon.

The Toronto-headquartered miner has also secured a non-binding commitment to purchase $40 million of the offered securities from Crede Capital Group, a U.S.-based company.

Proceeds from the offering will go toward general corporate purposes.