NEW YORK, NEW YORK -- (MARKET WIRE) -- 06/27/08 -- JANA Partners LLC, on behalf of funds that it manages, announces that it has acquired 29,062,855 units ("Units") of Palladon Ventures Ltd. (TSXV) Each Unit is comprised of one common share ("Common Share") and one-quarter of one warrant ("Warrant"). Each whole Warrant is exercisable for one Common Share at a price of CDN$1.00 up to and including December 26, 2009.Under the terms of the Warrants, JANA may not exercise such number of Warrants that would result in it holding more than 19.99% of the issued and outstanding number of Common Shares at such time. Assuming the exercise of the maximum number of permissible Warrants, as of June 26, 2008, JANA holds 34,446,558 Common Shares, representing approximately 19.99% of the issued and outstanding Common Shares on a partially diluted basis. Assuming the exercise of all of the Warrants, JANA holds 36,328,568 Common Shares, representing approximately 20.85% of the issued and outstanding Common Shares on a partially diluted basis. The Units were acquired on a private placement basis.
JANA acquired these securities for investment purposes, and may increase or decrease the investment in these securities depending on future market conditions.
For further information, or for a copy of the early warning report filed in respect of this transaction, please contact: Ms. Jennifer Fanjiang, JANA Partners LLC, 200 Park Avenue, Suite 3300, New York, New York 10166; Tel: (212) 692-7696.
Contacts:
JANA Partners LLC
Ms. Jennifer Fanjiang
(212) 692-7696
