PALISADES PROPOSES $20-MILLION RETURN OF CAPITAL TRANSACTION TO UNLOCK SHAREHOLDER VALUE
VANCOUVER, BC, July 24, 2025 /CNW/ - Palisades Goldcorp Ltd. (TSXV: PALI) (" Palisades" or the " Company") announces it is proposing to carry out a return of capital transaction (the " Transaction"). Pursuant to the Transaction, the Company proposes to distribute a specified number of common shares currently owned by the Company, with a $20-million value, of New Found Gold Corp. (TSXV: NFG) to the shareholders of the Company on a pro-rata basis. The Transaction is intended to maximize value for Palisades' shareholders and allow Palisades to distribute shares to shareholders as a return of capital. The Transaction is also intended to be tax-efficient for Canadian Income Tax purposes.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Vancouver Sun
5 minutes ago
- Vancouver Sun
Vancouver home sales tick 2% lower in July with market 'turning a corner': board
Vancouver-area home sales were down two per cent in July compared with last year, as the city's real estate board says it continues to believe the market is showing early signs of recovery. Greater Vancouver Realtors says residential sales in the region totalled 2,286 last month, down from the 2,333 sales recorded in July 2024 and 13.9 per cent below the 10-year seasonal average. The board's director of economics and data analytics Andrew Lis says the figures confirm that the market has turned a corner after months of slow activity spurred by the Canada-U.S. trade war. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Year-over-year sales were down around 10 per cent in June, roughly half of the decline recorded in May. There were 5,642 newly listed properties on the market in July, a 0.8 per cent increase from last year, as total active listings rose 19.8 per cent year-over-year to 17,168. The composite benchmark price in July was $1,165,300, down 2.7 per cent from a year earlier and 0.7 per cent lower than June.
The Market Online
5 minutes ago
- The Market Online
Eric Sprott refreshes stake in Canadian gold stock
Teuton Resources (TSXV:TUO) closed a C$1.6 million non-brokered private placement, including participation from top Canadian mining investor Eric Sprott Teuton is a mineral prospect generator with interests in more than twenty properties in British Columbia's mineral-rich Golden Triangle region The Canadian gold stock has given back 11.88 per cent year-over-year and 79.01 per cent since 2020 Canadian gold explorer Teuton Resources (TSXV:TUO) closed a C$1.6 million non-brokered private placement, including participation from top Canadian mining investor Eric Sprott. This content has been prepared as part of a partnership with Teuton Resources Corp., and is intended for informational purposes only. The company issued 2 million units priced at C$0.80, with each unit composed of one share and half a warrant, and each warrant entitling the owner to purchase one share for C$1.20 up to two years from closing. Sprott acquired 660,000 units through 2176423 Ontario Ltd., a corporation he beneficially owns, joining Dino Cremonese, Teuton's president, who acquired 100,000 units. According to Tuesday's news release, Sprott is a company insider, meaning he owns at least 10 per cent of Teuton Resources shares. Teuton will allocate the proceeds to working capital and to exploring its sizeable portfolio in British Columbia's Golden Triangle, which includes: A 20 per cent carried interest in the Treaty Creek project, one of the largest gold discoveries over the past three decades, in addition to a 0.98 per cent net smelter returns (NSR) royalty covering the project's flagship Goldstorm gold-silver-copper deposit and a 0.49 per cent royalty in the peripheral claims, neither subject to a buyback. Numerous royalties in claim packages south of Seabridge Gold's KSM property, the world's largest undeveloped gold project by resources. Additional royalties south of Newmont Mining's Brucejack property, one of the world's highest-grade gold mines in production, generating 286,000 ounces in fiscal 2023. The TSXV conditionally approved the transaction on July 25, 2025, subject to satisfactory closing, with no finder's fees or commissions associated with the final amount raised. The news follows May's spinout of Luxor Metals, to which Teuton allocated 20,481 hectares in mineral claims in northwestern British Columbia. About Teuton Resources Teuton is a mineral prospect generator with interests in more than twenty properties in British Columbia's mineral-rich Golden Triangle region. The Canadian gold stock (TSXV:TUO) is up by 2.3 per cent on the news trading at C$0.89 as of 10:27 am ET. The stock has given back 11.88 per cent year-over-year and 79.01 per cent since 2020. Join the discussion: Find out what investors are saying about Eric Sprott investing in this Canadian gold stock on the Teuton Resources Corp. Bullboard. Additionally, make sure to explore the rest of Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
CTV News
5 minutes ago
- CTV News
Nova Scotia Power seeking more time to file reports on cybersecurity attack
Nova Scotia Power is requesting additional time to file monthly reports on the cybersecurity attack that compromised the personal information of hundreds of thousands of customers earlier this year. In July, the Nova Scotia Energy Board ordered Nova Scotia Power to file a full report on the cyberattack by the end of 2025. It also required the utility to file monthly updates on its response to the incident, the first of which was due on Aug. 1. However, on Aug. 1, Judith Ferguson, executive vice president of regulatory, legal and government relations for Nova Scotia Power, sent a letter to the Energy Board saying they needed 'additional process clarification' and an extension on the start date for the monthly updates. 'The Board understands that NS Power is concerned about the sensitivity of the information to be provided and intends to seek Board approval to provide some or all of the information confidentially,' the Energy Board said in a response to the letter. 'The Board agrees that the filing of the report may be delayed but directs NS Power to file any request it intends to make around confidentiality or other process issues with the Board no later than August 15, 2025.' The Energy Board previously said the report should include a timeline of the cyberattack, details on the type and amount of exposed personal information, a review of the utility's policies and practices, and recommendations to improve security measures. 'Once the report is filed, the Board will launch a public process to review both the report and NS Power's planning for and response to the incident,' a news release from the energy board said at the time. 'The Board continues to work with MNP Digital, which is independently assessing the cybersecurity incident on behalf of Board Counsel and staff. NS Power has provided a high-level briefing about the incident to MNP, Board Counsel, and staff.' Cyberattack timeline Nova Scotia Power has previously said it detected 'unusual activity' on its network on April 25. It later learned the breach happened on or around March 19. The utility told the public it was the 'victim of a sophisticated ransomware attack' on May 23. An estimated 280,000 customers were impacted by the incident, which potentially compromised personal information like names, social insurance numbers, email addresses and phone numbers. Nova Scotia Power is offering five years of free credit monitoring to all former and current customers due to the cyberattack. Along with the energy board, the Office of the Privacy Commissioner is also investigating the incident. For more Nova Scotia news, visit our dedicated provincial page
