Canadian Palladium Sprott continues upbeat investments

Vancouver, British Columbia--(Newsfile Corp. - January 29, 2020) -  Canadian Palladium Resources Inc. (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR1) (formerly 21C Metals Inc.) (the "Company") has closed the non-brokered private placement previously announced on January 20, 2020. The private placement raised gross proceeds of $4,000,403 through the issuance of 33,336,698 units (each, a "Unit") at a price of $0.12 per share. Each Unit consists of one common share and one common share purchase warrant exercisable at a price of $0.18 for a period of 12 months from the date of grant. 

Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 12,500,000 Units for a total consideration of $1,500,000. Following the completion of the private placement, Mr. Sprott beneficially owns and controls 12,500,000 Common Shares and 12,500,000 Warrants of the Company representing approximately 12.6% of the issued and outstanding Common Shares of the Company on a non-diluted basis and approximately 22.2% of the issued and outstanding Common Shares on a partially diluted basis. Prior to the Financing, Mr. Sprott did not beneficially own or control any shares of the Company.

The Units were acquired by Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Canadian Palladium including on the open market or through private acquisitions or sell securities of Canadian Palladium including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

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