Palamina Announces $2,500,000 Private Placement

Executive Summary

• Palamina Corp. announced a non‑brokered private placement of up to 20 million units at $0.125 per unit, targeting gross proceeds of up to $2.5 million.
• Each unit consists of one common share and one warrant exercisable at $0.20 per share for 24 months (with possible acceleration).
• Net proceeds will be used to advance the Galena silver‑copper‑manganese project, the Usicayos gold project, and for general corporate and working‑capital purposes.

Key Details

• Offering Size: Up to 20,000,000 units.
• Purchase Price: $0.125 per unit.
• Gross Proceeds Target: Up to $2,500,000.
• Unit Composition: 1 common share + 1 warrant.
• Warrant Terms: Exercise price $0.20 per share; expires 24 months after closing unless the stock trades at ≥ $0.35 VWAP over a 10‑day period, in which case expiration may be accelerated to 30 days after a press release.
• Use of Proceeds: Advancement of Galena silver‑copper‑manganese project, Usicayos gold project, and general corporate/working capital.
• Regulatory Conditions: Offering subject to TSX Venture Exchange acceptance of regulatory filings; may involve cash finder's fees and additional warrants to eligible persons per securities laws.
• U.S. Restrictions: Securities not registered under the U.S. Securities Act; cannot be offered or sold in the United States or to U.S. persons without exemption.

Notable Quotes

(No executive quotes were provided in the release.)