Palisades Goldcorp Ltd. Announces Acquisition by New Found Gold Corp.
VANCOUVER, BC, April 22, 2024 /CNW/ – Palisades Goldcorp Ltd. (TSXV: PALI) (“Palisades” or the “Company”) is pleased to announce that New Found Gold Corp. (“New Found”), a significant equity investee of Palisades within the meaning of applicable Canadian securities legislation, has entered into a property purchase agreement with Labrador Gold Corp. (“LabGold”) providing for the sale by LabGold to New Found (the “Transaction”) of a 100% interest in LabGold’s Kingsway Project (the “Kingsway Project”), which adjoins New Found’s 100%-owned Queensway project in Newfoundland and Labrador, as well as certain related assets of LabGold (together with the Kingsway Project, the “Purchased Assets”).
For further details regarding the Transaction, including information on the Kingsway Project and a map thereof, and consideration to be exchanged for the Purchased Assets, please see New Found’s news release dated April 22, 2024, accessible on New Found’s website (www.newfoundgold.ca) and under New Found’s profile on SEDAR+ at www.sedarplus.ca.
About Palisades Goldcorp Ltd.
Palisades Goldcorp Ltd. is a resource investment company focused on junior companies in the resource and mining sector. The Company seeks to acquire equity participation in pre-initial public offering and early-stage public resource companies with undeveloped or undervalued high-quality projects. Additionally, Palisades holds a 24.5% interest in New Found Gold Corp., aligning with its investment strategy to achieve sector exposure and potential asset appreciation.
Palisades aims to provide financial resources to companies in need and capitalize on undervalued market opportunities, thereby mitigating political risks and maximizing returns for its shareholders. By diversifying its portfolio of securities and derivatives, Palisades ensures resilience against market fluctuations while positioning itself for growth in mineral commodity prices and project discoveries.
On behalf of the Board of Directors, “Collin Kettell”
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
SOURCE Palisades Goldcorp Ltd.
Additional Insight:
Palisades Goldcorp Ltd.’s strategic investment in New Found Gold Corp. underscores the Company’s commitment to identifying promising opportunities in the mining sector. By leveraging its expertise and financial resources, Palisades aims to unlock value in undervalued projects and contribute to the growth of junior resource companies. This acquisition further solidifies Palisades’ position as a key player in the resource investment landscape, reinforcing its dual investment strategy for sustained sector exposure and potential asset appreciation.
