North American Palladium Ltd. and Brookfield Business Partners LP Close Secondary Bought Deal Equity Offering
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TORONTO, April 15, 2019 (GLOBE NEWSWIRE) -- North American Palladium Ltd. (the “Company”), (TSX: PDL) (OTC PINK: PALDF) and the majority shareholder of the Company, an affiliate of Brookfield Business Partners LP, a publicly listed business services and industrials company of Brookfield Asset Management Inc. (“Brookfield”) have announced today that the previously announced offering of 5,770,000 common shares (the “Offering”) has closed. As a result of the Offering, Brookfield’s ownership interest in the Company has been reduced from approximately 90.85% prior to the Offering to approximately 81.05% (Brookfield now holds 47,689,128 common shares).
The Offering was led by BMO Capital Markets and RBC Capital Markets as joint bookrunners and BNP Paribas (Canada) Securities Inc., CIBC World Markets, National Bank Financial Inc. and TD Securities as co-managers.
About North American Palladium Ltd.
North American Palladium (TSX: PDL) (OTC PINK: PALDF) is a Canadian company with 25 years of production at the Lac des Iles Mine in a low-risk jurisdiction northwest of Thunder Bay, Ontario. North American Palladium is the world’s only pure play palladium producer. With over 700 employees, the Lac des Iles Mine features a unique, world-class ore body and modern infrastructure, including both an underground mine and surface operations.
No securities regulatory authority has either approved or disapproved of the contents of this news release.
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