Palisades Goldcorp evidently is interested in Xander Resources (TSXV: XND). It was announced last night after the bell that Xander has conducted a private placement, with Palisades being the lead order under the financing.
In total, Xander raised funds consisting of $400,000 under the private placement, with proceeds to be used for exploration of its properties and general working capital. The placement saw a total of 2,000,000 units of the company sold at a price of $0.20 per unit.
Each unit sold under the placement consists of one common share and one common share purchase warrant. Warrants are valid for a period of three years from the date of issuance, with an exercise price of $0.30.
Palisades Goldcorp is a resource-focused merchant bank currently focused on junior mining equities. The firm indicates that it intends to position itself with significant positions in what it refers to as undervalued companies and assets, with the target objective of generating superior returns.
It’s unclear at this time if Palisades was the only investor under the financing.
Xander Resources last traded at $0.26 on the TSX Venture.
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