Canadian Warrants

Each unit consists of one common share and one-half of one common share purchase warrant. The warrants are listed on the Toronto Stock Exchange under the symbol PDL.WT.B. Each whole warrant shall entitle the holder to acquire an additional common share at a price of $6.50 prior to 5 p.m. (Toronto time) on Oct. 28, 2011. In the event that the 20-day volume-weighted average price of the common shares on the TSX is greater than $7.50 at any time after the closing of the offering, the company may accelerate the expiry date of the warrants by giving notice to the holders thereof, and in such case the warrants will expire on the 30th day after the date on which such notice is given by the company.

Proceeds from the offering are primarily intended for development of the Offset zone at the Lac des Iles palladium mine, but may also be used to finance other capital expenditures, for exploration and development expenditures at its properties (including the Lac des Iles mine and the Sleeping Giant gold mine), to fund working capital requirements and for general corporate purposes, which may potentially include future acquisitions.


N.A. Palladium to list 8.7 million warrants on Apri 28

2010-04-26 18:50 MT - Prospectus Approved
TSX bulletin 2010-0476
A total of 8.7 million common share purchase warrants of North American Palladium Ltd. will be listed and posted for trading at the opening on Wednesday, April 28, 2010, under the following trading information.
Symbol: PDL.WT.B
Cusip: 656912 13 6
Trading currency: Canadian dollars

Designated market-maker: Jones Gable & Company Ltd.
Other markets: None

The warrants are being issued in connection with a prospectus offering of units by the company, each unit consisting of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of the company at a price of $6.50 per common share at any time until 5 p.m. (Toronto time) on the date that is 18 months following closing of the offering.

In the event that the 20-day volume weighted average trading price of the common shares on the Toronto Stock Exchange is greater than $7.50, the company may accelerate the expiry date of the warrants by giving notice to the holders thereof and, in such case, the warrants will expire on the 30th day after the date on which such notice is given the company.

Registration of interests in and transfers of the warrants will be made only through the book-entry-only system of CDS Clearing and Depository Services Inc. Warrants must be purchased, transferred and surrendered for retraction only through a CDS participant. Beneficial owners of warrants will not have the right to receive physical certificates evidencing their ownership.

The warrants will be governed by the terms of a warrant indenture to be dated April 27, 2010, between the company and Computershare Trust Company of Canada, as warrant trustee. The warrant indenture will provide for appropriate adjustments to the warrants in the event of stock dividends, subdivisions, consolidations and other forms of capital reorganization.

Please see elsewhere in today's Toronto Stock Exchange bulletins for information regarding the additional listing of common shares of the company.

N.A. Palladium to list eight million warrants Sept. 30

2009-09-28 17:25 MT - Warrants Called to Trade
TSX bulletin 2009-1237
A total of eight million common share purchase warrants of North American Palladium Ltd. will be listed and posted for trading at the opening on Wednesday, Sept. 30, 2009, under the following trading information:

Stock symbol: PDL.WT.A
Cusip No.: 656912 12 8
Designated market-maker: Jones Gable & Company Ltd.
Other markets: None

The warrants are being issued in connection with a prospectus offering of units by the company, each unit consisting of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of the company at a price of $4.25 per common share at any time until 5 p.m. (Toronto time) on Sept. 30, 2011.

In the event that the 20-day volume weighted average trading price of the common shares (symbol: PDL) on Toronto Stock Exchange is greater than $5.75, the company may accelerate the expiry date of the warrants by giving notice to the holders thereof not more than 60 days and not less than 30 days prior to the date fixed as the new expiry date, and in such case the warrants will expire on the 30th day after such notice has been given.

Registration of interests in and transfers of the warrants will be made only through the book-entry only system of CDS Clearing and Depository Services Inc. Warrants must be purchased, transferred and surrendered for retraction only through a CDS participant. Beneficial owners of warrants will not have the right to receive physical certificates evidencing their ownership.

The warrants will be governed by the terms of a warrant indenture between the company and Computershare Trust company of Canada, as warrant agent. The warrant indenture will provide for appropriate adjustments to the warrants in the event of stock dividends, subdivisions, consolidations and other forms of capital reorganization.

Please see elsewhere in Stockwatch for TSX bulletins with information regarding the additional listing of common shares of the company.
 
N.A. Palladium lists 9,333,333 warrants

2007-12-13 08:01 MT - Warrants Called to Trade
TSX bulletin 2007-1749

The following trader note was issued by the Toronto Stock Exchange on Dec. 13, 2007, at 9:05 a.m:

Further to TSX bulletins 2007-1643 and 2007-1730, dated Nov. 21 and Dec. 11, 2007, respectively, the prospectus offering has now closed. Trading on an if, as and when-issued basis in the common shares and common share purchase warrants of North American Palladium Ltd. will cease effective immediately. All trading in the additional common shares will continue under the regular symbol PDL and trading in the warrants will continue under the trading information below. Trading of both the common shares and warrants will be on a regular three-day settlement basis. The symbol PDL.W will be halted for the remainder of the day and will be delisted at the close today.
An additional 28 million common shares of the company will be listed at the open on Dec. 13, 2007. The listing covers common shares forming part of 18,666,667 units to be sold to the public at a price of $4.04 per unit pursuant to the terms of a prospectus dated Dec. 11, 2007. Each unit consists of one common share and one-half of a common share purchase warrant, each whole warrant entitling the holder to acquire one common share at a price of $5.05 (U.S.) at any time prior to two years from the date of the closing of the offering. The units will separate immediately upon the closing of the public offering.
A total of 9,333,333 warrants of the company will be listed and posted for trading at the open on Dec. 13, 2007, under the following information:

Warrant symbol:  PDL.WT
Warrant Cusip No.:  656912 11 0
Warrant trading currency:  Canadian dollars
Designated market-maker:  Jones, Gable & Co. Ltd.
Transfer agent and registrar:  Computershare Investor Services Inc. at its principal office in Toronto
Other markets:  Both the common shares and common share purchase warrants are listed on AMEX

The warrants are governed by the terms of a warrant indenture dated Dec. 13, 2007, between the company and Computershare Trust Co. of Canada as trustee. The warrant indenture provides for appropriate adjustments to the warrants in the event of stock dividends, subdivisions and consolidations
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N.A. Palladium when-issued trading of offering units
 
2007-11-21 16:22 MT - Prospectus Approved
TSX bulletin 2007-1643
North American Palladium Ltd. has filed a final short form base shelf prospectus dated Nov. 16, 2007, regarding offerings of securities of the company.
It is anticipated that, within the next few days, the company will file a pricing supplement for an offering of units, each unit consisting of one common share and one-half of a common share purchase warrant.
As soon as possible after the pricing supplement has been filed with the relevant securities commissions, the Toronto Stock Exchange will post the common shares and warrants for trading on an if, as and when-issued basis under the trading information set out below. Prior to posting the common shares and warrants for trading, the TSX will issue a trader note confirming the expected closing date for the prospectus offering. If and when the prospectus offering closes, the common shares and warrants will be listed on the TSX.
 
Common share symbol: PDL.W
Common share Cusip No.: 656912 99 5
 
Common share trading currency: United States dollars
 
Warrant symbol: PDL.WT
Warrant Cusip No.: 656912 11 0
 
Warrant trading currency: U.S. dollars
Designated market-maker: Jones Gable & Co. Ltd.
Transfer agent and registrar: Computershare Investor Services Inc. at its principal office in Toronto
Other markets: The common shares of the company are listed on the American Stock Exchange under the symbol PAL.
 
Settlement: Subject to the closing of the prospectus offering: (i) all trades in PDL.W and PDL.WT on and before the fourth trading day preceding the closing date will be for special settlement on the closing date and will appear on the settlement report from CDS Clearing and Depository Service Inc.; and (ii) all trades in PDL.W and PDL.WT for each of the three days preceding the closing date will be for special settlement three business days after the trade date and will appear on the settlement report from the CDS. If the prospectus offering does not close, all if, as and when-issued trades will be cancelled. No securities will be delivered and no money will be owed by the purchasers to the sellers.
 Parties entitled to receive the common shares and warrants under the prospectus offering may sell such common shares and warrants in the if, as and when issued market without being subject to restrictions on short sales. Parties who have bought the common shares and warrants under the prospectus offering and who wish to sell into the regular market before the deal has closed must comply with the short sale rule in all respects. In addition, parties who are not entitled to receive the common shares and warrants under the prospectus offering must comply with the short sale rule in all respects for any sales they make in the PDL.W and PDL.WT market.
If and when the offering closes, there will be no further trading in PDL.W market. The common shares issued at closing will trade in the PDL market on a regular settlement basis. Also at the close all further trading in the PDL.WT market will be on a regular settlement basis.