North American Palladium Receives Final Order

TORONTO, Dec. 09, 2019 (GLOBE NEWSWIRE) -- North American Palladium Ltd. ("NAP" or the "Company") (TSX:PDL) (OTC PINK:PALDF) today announced that all of the required regulatory approvals have been obtained with respect to the proposed plan of arrangement (the “Arrangement”) pursuant to which an affiliate of Impala Platinum Holdings Limited (the "Purchaser") will acquire all of the issued and outstanding common shares of the Company (the "Shares") by way of a plan of arrangement. Under the terms of the Arrangement, shareholders of NAP other than Brookfield (defined below), will receive C$19.74 per Share in cash and Brookfield Business Partners L.P. (together with its institutional partners, collectively “Brookfield”), as the majority shareholder of NAP, will receive C$16.00 per Share in cash.

The parties currently anticipate that the transaction will close on or about December 13, 2019.

Shareholders who have questions or require assistance with submitting their Shares to the Arrangement may direct their questions to Computershare Trust Company of Canada, who is acting as depositary under the Arrangement, toll free at 1-800-564-6253 or by email at corporateactions@computershare.com. Further information regarding the Arrangement is available in the management information circular of the Company dated November 1, 2019, which is available under NAP's profile on SEDAR at www.sedar.com.

About North American Palladium Ltd.

North American Palladium (TSX: PDL) (OTC PINK: PALDF) is a Canadian company with 25 years of production at the Lac des Iles Mine in a low-risk jurisdiction northwest of Thunder Bay, Ontario. North American Palladium is the world’s only pure play palladium producer. With over 675 employees, the Lac des Iles Mine features a unique, world-class ore body and modern infrastructure, including both an underground mine and surface operations.

For further information, please contact:

North American Palladium Investor Relations at ir@nap.com.