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Message: News Palladon trying to raise $1.1 million!
It looks like the 3 stooges are finally trying to raise cash through a PP. In the 1st year that Cutler took over as CEO he should have tried this at .10 for $30 million. One year later and 78% of the mine gone it looks like Luxor needs more cash because Palladon is obligated to contribute $435,000 to Luxor or PIC for its pro-rata shares in PIC. If they don't come up with the cash then they loose more of there shares of PIC to Luxor which will reduce their 21.3% of PIC to an even lower number. So I guess Palladon still does have a debt problem to Luxor and I guess they lied again to the share holder about being debt free. Don't forget that the rest of the money is need to keep on the highly payed skilled directors so that they don't move on to other director jobs that pay more.
So Mr. Cutler what are you offering the new share holder to invested in a company that's worth at todays closing of .035 to buy into a PP at .06 to .065? Good luck. You are going to need it!!! Now if you and the other 2 stooges left and put some real miners on the board then that would bring me back in. Other than that you can take that PP and shove it because no one believes that you could ever get the job done at Palladon ever.
Salt Lake City, UT, April 21,2010. Palladon Ventures Ltd. ("Palladon" or the "Company") (TSX-V:PLL.V) (Frankfurt: PV-1). Palladon announces today that it willraise up to $1.1 million in capital. Of the $1.1 million, $435,000 willbe used to fund the Company's pro-rata share of a capital call fromPalladon Iron Corp. The balance will be used to fund working capitaland to pay expenses required to remain a public company. The capitalraise will be accomplished through a private placement of new commonshares at a price between 5.5 and 6.5 cents per share. The transactionis subject to TSX-V approval.
On Behalf of the Board of Directors,
John Cutler
President
About Palladon
Palladon Ventures Ltd. holds a significant minority interest in PalladonIron Corporation, which is focused on advancing the Iron MountainProject, an iron ore mine located west of Cedar City, Utah.
For Further Information Please Contact:
John Cutler
President
Palladon Ventures Ltd.
801.521.5252 Tel
801.521.5454 Fax
Email: [email protected]
Website: www.palladonventures.com
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements, whichreflect the expectations of management. Forward-looking statementsconsist of statements that are not purely historical, including anystatements regarding beliefs, plans, expectations or intentionsregarding the future, which include the Company's continuing effortsfinance current operations and further development of the Iron MountainProject. Such statements are subject to risks and uncertainties that maycause actual results, performance or developments to differ materiallyfrom those contained in the statements. No assurance can be given thatany of the events anticipated by the forward-looking statements willoccur or, if they do occur, what benefits the Company will obtain fromthem. These forward-looking statements reflect management's currentviews and are based on certain expectations, estimates and assumptionswhich may prove to be incorrect. A number of risks and uncertaintiescould cause our actual results to differ materially from those expressedor implied by the forward-looking statements, including: (1) a downturnin general economic conditions in North America and internationally,(2) the inherent uncertainties and speculative nature associated withmineral exploration and production, (3) a decreased demand for minerals,(4) any number of events or causes which may delay or cease explorationand development of the Company's property interests, such asenvironmental liabilities, weather, mechanical failures, safety concernsand labor problems; (5) the risk that the Company does not execute itsbusiness plan, (6) inability to retain key employees, (7) inability tofinance operations and growth, (8) other factors beyond the Company'scontrol; and (9) the risk that the Company will not be able to raisefunds due to Luxor Capital Group. These forward-looking statements aremade as of the date of this news release and, except as required by law,the Company assumes no obligation to update these forward-lookingstatements, or to update the reasons why actual results differed fromthose projected in the forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (asthat term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.
So Mr. Cutler what are you offering the new share holder to invested in a company that's worth at todays closing of .035 to buy into a PP at .06 to .065? Good luck. You are going to need it!!! Now if you and the other 2 stooges left and put some real miners on the board then that would bring me back in. Other than that you can take that PP and shove it because no one believes that you could ever get the job done at Palladon ever.
Salt Lake City, UT, April 21,2010. Palladon Ventures Ltd. ("Palladon" or the "Company") (TSX-V:PLL.V) (Frankfurt: PV-1). Palladon announces today that it willraise up to $1.1 million in capital. Of the $1.1 million, $435,000 willbe used to fund the Company's pro-rata share of a capital call fromPalladon Iron Corp. The balance will be used to fund working capitaland to pay expenses required to remain a public company. The capitalraise will be accomplished through a private placement of new commonshares at a price between 5.5 and 6.5 cents per share. The transactionis subject to TSX-V approval.
On Behalf of the Board of Directors,
John Cutler
President
About Palladon
Palladon Ventures Ltd. holds a significant minority interest in PalladonIron Corporation, which is focused on advancing the Iron MountainProject, an iron ore mine located west of Cedar City, Utah.
For Further Information Please Contact:
John Cutler
President
Palladon Ventures Ltd.
801.521.5252 Tel
801.521.5454 Fax
Email: [email protected]
Website: www.palladonventures.com
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements, whichreflect the expectations of management. Forward-looking statementsconsist of statements that are not purely historical, including anystatements regarding beliefs, plans, expectations or intentionsregarding the future, which include the Company's continuing effortsfinance current operations and further development of the Iron MountainProject. Such statements are subject to risks and uncertainties that maycause actual results, performance or developments to differ materiallyfrom those contained in the statements. No assurance can be given thatany of the events anticipated by the forward-looking statements willoccur or, if they do occur, what benefits the Company will obtain fromthem. These forward-looking statements reflect management's currentviews and are based on certain expectations, estimates and assumptionswhich may prove to be incorrect. A number of risks and uncertaintiescould cause our actual results to differ materially from those expressedor implied by the forward-looking statements, including: (1) a downturnin general economic conditions in North America and internationally,(2) the inherent uncertainties and speculative nature associated withmineral exploration and production, (3) a decreased demand for minerals,(4) any number of events or causes which may delay or cease explorationand development of the Company's property interests, such asenvironmental liabilities, weather, mechanical failures, safety concernsand labor problems; (5) the risk that the Company does not execute itsbusiness plan, (6) inability to retain key employees, (7) inability tofinance operations and growth, (8) other factors beyond the Company'scontrol; and (9) the risk that the Company will not be able to raisefunds due to Luxor Capital Group. These forward-looking statements aremade as of the date of this news release and, except as required by law,the Company assumes no obligation to update these forward-lookingstatements, or to update the reasons why actual results differed fromthose projected in the forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (asthat term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.
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