North American Palladium reports C$75 Million Cross-Border Bought Deal Financing of Units

North American Palladium Ltd. (TSX:PDL)(TSX:PDL.WT.A)(NYSE Amex:PAL) reported that the company has entered into an agreement with a syndicate of underwriters co-led by Cormark Securities Inc. and Haywood Securities Inc. under which the Underwriters have agreed to purchase 15,000,000 units from the Company on a bought deal basis at a price of C$5.00 per Unit for aggregate gross proceeds of approximately C$75,000,000.

The press release is quoted as saying:

Each Unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant shall entitle the holder to acquire an additional common share at a price of C$6.50 during the period ending 18 months following the closing of the Offering.

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