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TORONTO, ONTARIO -- (Marketwired) -- 04/08/16 -- North American Palladium Ltd. ('NAP') (TSX:PDL)(OTC PINK:PALDF) (the 'Company'), is pleased to announce today that on March 24, 2016 , the Company adopted a stock option plan (the 'Stock Option Plan') pursuant to which a maximum of 5,000,000 common shares or 8.60% of the current issued and outstanding common shares of the Company may be reserved for issuance pursuant to the exercise of options. The previous stock option plan was terminated and all stock options issued and outstanding at the time were cancelled effective August 6, 2015 as a result of a plan of arrangement implemented by the Company. Pursuant to the Stock Option Plan, the Company has granted stock options to certain of its officers and employees to purchase an aggregate of 1,125,000 common shares at an exercise price of $5.97 per common share. The stock options have a term of ten (10) years, subject to one-fifth of the grant vesting every twelve (12) months from grant day. Under the terms of the Stock Option Plan 3,875,000 common shares or 6.67% of the current issued and outstanding common shares of the Company remain available for future grants. A summary of key terms of the Stock Option Plan can be found in the Company's management proxy circular dated April 1, 2016 .
In connection with the adoption of the Stock Option Plan, the Company is relying on the Toronto Stock Exchange Company Manual exemption under section 604(f), which provides that securityholder approval will not be required where at least ninety percent (90%) of a listed issuer's equity and outstanding voting securities are held by one person or company, together with its associates and affiliates. As of the date of this press release, Brookfield Capital Partners Ltd. owns approximately 92% of the issued and outstanding common shares of the Company (on a non-fully diluted basis) and therefore additional shareholder approval is not required to adopt the Stock Option Plan.
About North American Palladium
NAP is an established precious metals producer that has been operating its Lac des Iles mine (LDI) located in Ontario, Canada since 1993. LDI is one of only two primary producers of palladium in the world, offering investors exposure to palladium. The Company's shares trade on the TSX under the symbol PDL and on the OTC Pink under the symbol PALDF.
North American Palladium Ltd.
Investor Relations
416-360-7374
[email protected]
Source: North American Palladium Ltd.
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North American Palladium Ltd
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PRODUCTEUR |
CODE : PDL.TO |
ISIN : CA6569121024 |
CUSIP : 656912102 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
North American Palladium est une société de production minière de palladium basée au Canada. North American Palladium est productrice de palladium, de cuivre, de nickel, d'or et de platine au Canada, en développement de projets de cuivre, d'or, de palladium et de platine en Finlande, et détient divers projets d'exploration au Canada. Ses principaux projets en production sont LAC DES ILES et SLEEPING GIANT PROPERTY au Canada, son principal projet en développement est ARCTIC (SUHANKO) en Finlande et ses principaux projets en exploration sont TIB LAKE, DISCOVERY PROJECT, SHEBANDOWAN - BAND-ORE et ROARING RIVER au Canada. North American Palladium est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 1,1 milliards CA$ (871,6 millions US$, 781,9 millions €). La valeur de son action a atteint son plus haut niveau récent le 01 juin 2012 à 996,00 CA$, et son plus bas niveau récent le 26 décembre 2014 à 0,16 CA$. North American Palladium possède 58 130 000 actions en circulation. |