THE INVESTOR'S GUIDE TO WARRANTS:
Capitalize on the Fastest Growing Sector of the
Stock Market, Second Edition (Hardcover)
by Andrew McHattie Rating: ISBN-10: 027303751X
N.A. Palladium
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Address: 200 Bay Street, Suite
2350
Royal Bank Plaza, South Tower
Toronto ON M5J 2J2
Phone: 416 360 7590
Fax: 416 360 7709
Website -
https://www.nap.com
Warrant Symbol - PDL.WT.B
Number Trading - 8.7 million
Expiration Date -
October 28,
2011
Cusip - 656912 13 6
Exercise Price - $6.50
Warrant Symbol - PDL.WT.A
Number Trading -
8 million
Expiration Date - September
30, 2011 (early
expiration)
Cusip - 656912 12 8
Exercise Price - $4.25
Warrant Symbol - PDL.WT
Number Trading - 9,333,333
Expiration Date - December 13,
2009
Cusip - 656912 11 0
Exercise Price - $5.05 USD
Warrants called to trade news:
N.A. Palladium closes
$100-million bought deal
2010-04-28 07:48 MT - News
Release
North American Palladium Ltd.
has completed its previously
announced cross-border bought
deal public offering of 20
million units at a price of $5
per unit, for total gross
proceeds of $100-million.
Cormark Securities Inc. and
Haywood Securities Inc. co-led
the underwriting syndicate,
which included Thomas Weisel
Partners Canada Inc., Octagon
Capital Corp., Dundee Securities
Corp., GMP Securities LP, Knight
Capital Markets LLC and
Macquarie Capital Markets Canada
Ltd.
read more... || collapse
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
.
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.
Canadian Market News
- Expiration Date: The last day the warrants can be exercised. If warrants aren't going to be exercised then they must be sold the day before the expiry date. The longer the time to expiry the more valuable the warrants.
- Leverage: A measure of how much you can increase your exposure to a share if you bought warrants instead of making a direct investment. It is the current share price divided by the current price of the warrant.
- Intrinsic Value: The difference between the exercise price and the actual trading price of the common stock. Once the common has gone over the exercise price, the warrants are "In the Money."
- Volatility: The higher the volatility rating, the higher the price of the warrant. Historical volatility is calculated by using the standard deviation of an underlying stock price over a specific period.
- Time Value: The difference between the current warrant price and its intrinsic value. Interpreted as the consideration paid for the advantage the warrant buyer has over the direct investor.