PalladiumOne Mining announced that it has entered into subscription agreement with a wholly owned subsidiary of new investor Glencore plc for non-brokered private placement of 28,347,000 common shares at a price of CAD 0.15 per common share for the gross proceeds of CAD 4,252,050. Glencore will own approximately 9.99% of the issued and outstanding common shares on a non-diluted basis. The private placement is expected to close on or about April 11, 2023.

The transaction is subject to customary conditions, including acceptance by the TSX Venture Exchange. The common shares issued will be subject to a four-month hold period from the date of issuance in accordance with applicable securities laws.