North American Palladium
News Release - January 27, 2010
10-03-NAP
TSX: PDL
NYSE Amex: PAL
NAP
renews shelf prospectus
Toronto, Ontario - North American Palladium Ltd.
("NAP") announced today that it has filed a preliminary shelf prospectus with
applicable securities regulators in each of the provinces of Canada and a
corresponding registration statement with the United States Securities and
Exchange Commission.
The shelf prospectus is intended to replace NAPs US$300
million shelf prospectus that expired in December 2009.
Following approval by securities regulators, the
shelf prospectus will allow NAP to make offerings of common shares, debt
securities, special shares, warrants, share purchase contracts, share purchase
or equity units and subscription receipts in an aggregate principal amount of
up to US$300 million during the 25-month period that the shelf prospectus
remains effective.
The nature, size and timing of any such financings depend,
in part, on NAPs assessment of its requirements for funding and general market
conditions.
NAP anticipates that net proceeds of any such financings would be
used for exploration and development expenditures at its properties and for
general corporate purposes.
This news release does not constitute an offer to
sell or the solicitation of an offer to buy securities in any jurisdiction.
A
registration statement relating to these securities has been filed with the
United States Securities and Exchange Commission but has not yet become
effective. These securities may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes effective.
Copies of the preliminary shelf prospectus are available on request from the
contact listed below or at www.sedar.com and www.sec.gov.
About North American
Palladium
NAP is a Canadian precious metals company focused on the production of
palladium and gold in mining friendly jurisdictions.
Lac des Iles, the
Companys flagship mine, is one of North Americas two primary palladium
producers.
Located approximately 85 kilometres northwest of Thunder Bay,
Ontario, Lac des Iles has produced palladium since 1993.
NAP also owns and
operates the Sleeping Giant mine located in the Abitibi region of Quebec, which
is expected to produce approximately 50,000 ounces of gold per year.
NAP has
extensive landholdings adjacent to both the Lac des Iles and Sleeping Giant
mines, and is pursuing an aggressive exploration program aimed at increasing
its reserves and resources in those areas.
NAP trades on the NYSE Amex under
the symbol PAL and on the TSX under the symbol PDL.
Cautionary Statement on Forward Looking Information
Certain information included in this press release
constitutes forward-looking statements within the meaning of the safe
harbor provisions of the United States Private Securities Litigation Reform
Act of 1995 and Canadian securities laws.
The words expect, believe,
will, intend, estimate and similar expressions identify forward-looking
statements.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by management, are
inherently subject to significant business, economic and competitive
uncertainties, risks and contingencies, including the possibility that the restart
of the Lac des Iles mine may not proceed as planned, that the operations at the
Sleeping Giant mine may not be successfully maintained, that NAPs other
properties may not be successfully developed, and that the metals prices and
foreign exchange assumptions may differ from managements expectations.
The
Company cautions the reader that such forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause the actual
financial results, performance or achievements of North American Palladium to
be materially different from the Companys estimated future results,
performance or achievements expressed or implied by those forward-looking
statements and that the forward-looking statements are not guarantees of future
performance.
For more details on these estimates, risks and assumptions, see
the Companys most recent Form 40-F/Annual Information Form on file with the
U.S.
Securities and Exchange Commission and Canadian provincial securities
regulatory authorities.
The Company disclaims any obligation to update or
revise any forward-looking statements, whether as a result of new information,
events or otherwise, except as expressly required by law.
Readers are cautioned
not to put undue reliance on these forward-looking statements.
For further information please contact:
Trent Mell
Vice
President, Corporate Development
and General Counsel
Tel.: 416-360-7971 ext.
225
Email:
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