12:52 PM EDT, 07/30/2025 (MT Newswires) -- Palisades Goldcorp ( PLGDF ) shares were last seen down 5.2% after the company said it arranged an $8.53-million loan from a strategic investor.

The company said the 12-month loan carries a 15% interest rate and is secured by 7.85-million New Found Gold (NFG.TO) shares.

Palisades said it expects to close on the loan will close within 21 days and has been approved by the company's board. Tungsten III LLC, which is controlled by the investor will be purchasing the note.

Palisades shares were last seen down $0.08 to $1.47 on the TSX Venture Exchange.

Price: 1.47, Change: -0.08, Percent Change: -5.16