Palamina shareholder Thomson acquires 3.69M units

Executive Summary

• Andrew Thomson (the acquiror) purchased 3,695,000 units of Palamina Corp. at approximately $0.125 per unit, each unit comprising one common share and one warrant.
• The purchase raised the acquiror’s indirect beneficial ownership to roughly 16.1% (undiluted) / 20.5% (partially diluted) of Palamina’s outstanding shares, up from about 13.9% / 15.0% prior to the transaction.
• All warrants are subject to regulatory and shareholder approvals before they may be exercised; the acquiror states the investment is for long‑term purposes and further purchases or dispositions may occur.

Key Details

• Purchase amount: 3,695,000 units at $0.125 per unit (≈ $461,875 total).
• Unit composition: 1 common share + 1 warrant per unit.
• Warrant terms: Each warrant exercisable for one additional common share at $0.20 per share; exercise window of two years from issuance, subject to required approvals.
• Pre‑purchase holdings: 9,955,802 shares and 975,000 options (≈ 13.9% undiluted / 15.0% partially diluted).
• Post‑purchase holdings:
• Shares: 13,651,802 (≈ 16.1% undiluted)
• Options: 975,000 (unchanged)
• Warrants: 3,695,000 (≈ 20.5% partially diluted).
• Purpose of acquisition: Investment for long‑term view; may acquire additional shares or dispose of holdings depending on market conditions and strategic considerations.
• Regulatory context: Filed in accordance with National Instrument 62‑104 (Take‑Over Bids and Issuer Bids).
• Contact information: Early warning report available on SEDAR; inquiries to Mr. Andrew Thomson, 145 King St. West, Suite 2870, Toronto, ON M5H 1J8, Tel 416‑204‑7536.