Palamina Corp. announced a private placement to issue 77,000 common shares at an issue price of CAD 0.116233766 for the gross proceeds of CAD 8,949.941 on March 13, 2024. The acquirer paid between CAD 0.10 and CAD 0.135 per share or CAD 8,950 in aggregate in the transaction.

The transaction will include participation from returning individual investor Andrew Thomson. The acquired shares increased the Acquiror?s overall holdings in the Reporting Issuer to 11.4% of the outstanding shares of on an undiluted basis and 14.1% on a partially diluted basis. Immediately prior to the purchases, the Acquiror had beneficial ownership, or exercised control or direction, both directly and indirectly over (a) 6,038,302 shares; (b) 525,000 options; and (c) 394,000 warrants, representing approximately 9.2% of the outstanding shares of Palamina on an undiluted basis and 10.7% of the outstanding shares on a partially diluted basis.

Following the purchases, the Acquiror has beneficial ownership or exercises direction or control over, directly and indirectly: (a) 10,389,329 shares; (b) 1,300,000 Options; and (c) 970,000 warrants, representing approximately 11.4% of the outstanding shares on an undiluted basis and 14.1% on a partially diluted basis.