International miner Glencore is taking a significant equity stake in a promising nickel and copper project in northwestern Ontario.
Palladium One Mining, an exploration company working north of the Hemlo gold mine complex, announced Glencore plc is investing more than $4.2 million through a private placement financing agreement.
The proceeds are mostly earmarked for exploration and development activities at Palladium One’s nickel projects.
When the private placement closes on April 11, Glencore will own approximately 9.99 per cent of Palladium One’s issued and outstanding shares.
[More]
