Maudore Minerals Ltd. (TSXV:MAO) acquired NAP Quebec Mines Ltd. from North American Palladium Ltd. (TSX:PDL) for CAD 19.6 million in cash and stock on March 22, 2013. The purchase price paid by Maudore will consist of CAD 18 million in cash and 1.5 million common shares of Maudore. The shares issued as acquisition consideration are subject to a four-month hold period in accordance with Canadian securities laws. The transaction was financed by borrowings under a CAD 22 million secured credit facility by FBC Holdings Sarl. For the fiscal year ended December 31, 2012, NAP Quebec reported total assets of CAD 29.81 million, revenue of CAD 3 million, operating loss of CAD 56.42 million, net loss of CAD 54.63 million. The transaction was approved by TSX Venture. Maudore Minerals Ltd and North American Palladium shall allocate the purchase consideration between shares and intercompany debt as, CAD 1 for shares and balance for debt. Dundee Capital Markets acted as the financial advisor to North American Palladium and Andrew Grossman of Norton Rose acted as its legal advisor. Morrison Park Advisors acted as financial advisor to Maudore Minerals. David Glennie of Blake Cassels & Graydon LLP acted as legal advisor to Maudore Minerals.

Maudore Minerals Ltd. (TSXV:MAO) completed the acquisition of NAP Quebec Mines Ltd. from North American Palladium Ltd. (TSX:PDL) on March 22, 2013.