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Nickel Creek Platinum Announces Closing of Final Tranche of Private Placement
Nickel Creek Platinum Announces Closing of Final Tranche of Private Placement Cana...
About this update from Nickel Creek Platinum Corp.
[{"type":"text","content":"\n\n\n\nNickel Creek Platinum Announces Closing of Final Tranche of Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 17, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\n TORONTO, June 17, 2020 /CNW/ - Nickel Creek Platinum Corp. (TSX: NCP) (\"Nickel Creek\" or the \"Company\") is pleased to announce that it has closed a third and final tranche of its previously announced private placement (the \"Private Placement\") pursuant to which the Company issued a total of 25,909,091 \"flow-through\" units (\"FT Units\") at a price of $0.055 per FT Unit for aggregate gross proceeds to the Company of approximately $1.425 million (the \"Flow-Through Offering\"). Each FT Unit consists of one \"flow-through\" common share and one common share purchase warrant (each a \"FT Warrant\"), with each FT Warrant exercisable for one common share at an exercise price of $0.10 for a period of five years from the date of issuance, subject to adjustment upon certain customary events.\nThe Company received shareholder approval of the second and third tranches of the Private Placement at the Company's annual general and special meeting held on June 2, 2020. The Company previously closed the first two tranches of the Private Placement for aggregate gross proceeds of $2.2 million ($672 thousand on April 7, 2020 and $1.528 million on June 5, 2020). The aggregate gross proceeds raised pursuant to the Private Placement, including the Flow-Through Offering, is approximately $3.625 million. \nThe gross proceeds from the Flow-Through Offering will be used towards the 2020 exploration program and the gross proceeds will be used by the Company to fund \"Canadian exploration expenses\" that will qualify as \"flow-through mining expenditures\", each as defined under the Income Tax Act (Canada). \nIn connection with the Flow-Through Offering, certain finders received payment of a...