Rochester, NY 8/4/2009 9:09:04 PM
North American Palla, PAL - Entered Agreement to Cadiscor Plan Arrangement
NORTH AMERICAN PALLA
NORTH AMERICAN PALLA, PAL
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North American Palladium Ltd. and Cadiscor Resources Inc. today announced that they have entered into a definitive agreement pursuant to which NAP will acquire by way of a plan of arrangement all of the outstanding common shares of Cadiscor in an all-share transaction, whereby Cadiscor shareholders will receive 0.33 common shares of NAP for each common share of Cadiscor .
Based on the closing price of NAP's common shares on the TSX of $1.78 on March 31, 2009, the Exchange Ratio implies a value for each Cadiscor share of $0.59 and represents a premium of 47% to the closing price of Cadiscor's shares on March 31, 2009, and a premium of 75% to the 20-day volume weighted average trading price of Cadiscor's shares for the period ended March 31, 2009.
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