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North American Palladium closes bought deal unit and flow through share offerings for proceeds of US$73 million

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Thomas Weisel Partners Canada and Cormark Securities

On October 8, 2009, North American Palladium Ltd. closed its previously announced bought deal private placement of 4,000,000 flow through shares at a price of $3.75 per share for total gross proceeds of $15,000,000. On September 30, 2009, North American Palladium closed its previously announced cross-border bought deal public offering of 16,000,000 units for total gross proceeds of $50,400,000. The underwriters subsequently exercised an over-allotment option acquire an additional 2,400,000 units at the public offering price for total gross proceeds of $7,560,000. Total gross proceeds from the unit and flow through share offerings were approximately $73 million. Thomas Weisel Partners Canada Inc. and Cormark Securities Inc. co-led the underwriting syndicate, which included Dundee Securities Corporation, Haywood Securities Inc. and Octagon Capital Corporation. The underwriters were advised in both of these transactions by a team from Fasken Martineau that included Alfred Apps, Rob Mason, Geoff Clarke, Amanda Fullerton, Jessica Catton and Louise Kennedy (corporate/securities) and Bill Bies (tax). 


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