TransactionsNorth American Palladium Completes $22 Million Flow-Through FinancingPublished: 03/11/2011 By Chad Accursi, Gregory Hogan, Christopher B. Norton On February 18, 2011, North American Palladium Ltd. (“NAP” or the “Company”) completed a flowthrough financing through which the Company sold 2,667,000 flow-through shares of NAP on a guaranteed basis at a price of $8.25 per share. The syndicate of underwriters was led by RBC Capital Markets and Scotia Capital Inc. and included Cormark Securities Inc., Stifel Nicolaus Canada Inc., Macquarie Capital Markets Canada Ltd., GMP Securities L.P., Haywood Securities Inc. and Octagon Capital Corporation. The Company intends to use the proceeds from the offering for exploration activities that will constitute Canadian exploration expenditures, a portion of which will qualify as "flow-through mining expenditures" as defined in the Income Tax Act (Canada). Cassels Brock acted for the underwriters with a team that included Chad Accursi (Securities and Mining), Greg Hogan (Securities and Mining), Jason Macintosh (Securities and Mining) and Chris Norton (Tax). |