North American Palladium Announces Exercise of Over-Allotment Option

North American Palladium Ltd. (TSX:PDL)(NYSE Amex:PAL) reported that the company has received notice of exercise for the full over-allotment option granted in connection with its previously announced cross-border bought deal financing.

The press release is quoted as saying:

The syndicate of underwriters co-led by Cormark Securities Inc. and Haywood Securities Inc. (collectively, the “Underwriters”) have agreed to purchase an additional 2,600,000 units (the “Units”) from the Company at a price of C$5.00 per Unit for aggregate additional gross proceeds of C$13,000,000. Total aggregate gross proceeds for the Unit financing are now expected to be approximately C$100,000,000 (the “Offering”).

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