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Nickel Creek Platinum Announces Proposed Non-Brokered Private Placement of $1,300,000
Nickel Creek Platinum Announces Proposed Non-Brokered Private Placement of $1,300,000 ...
About this update from Nickel Creek Platinum Corp.
[{"type":"text","content":"\n\n\n\nNickel Creek Platinum Announces Proposed Non-Brokered Private Placement of $1,300,000\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 26, 2019\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 26, 2019 /CNW/ - Nickel Creek Platinum Corp. (TSX:NCP) (\"Nickel Creek\" or the \"Company\") today announced that it intends to sell, on a non-brokered private placement basis, in two tranches, approximately 31.7 million units (the \"Units\") at a price of $0.041 per Unit for aggregate gross proceeds of $1.3 million (the \"Private Placement\"). Each Unit will consist of one common share in the capital of the Company (each, a \"Common Share\") and one common share purchase warrant (each, a \"Warrant\"), with each Warrant exercisable into one Common Share (each, a 'Warrant Share\") at an exercise price of $0.08 for a period of five (5) years from the date of issuance, subject to adjustment upon certain customary events. The Warrants, if exercised in full by the holders thereof, would represent additional gross proceeds to the Company of $2.6 million. \nIn connection with the Private Placement, the Company's largest shareholder, Electrum Strategic Opportunities Fund L.P. (\"Electrum\"), has agreed to purchase any Units that are unsubscribed for under the Private Placement up to a maximum backstop commitment of $1.3 million. \nElectrum, Drake Special Situations LLC, Tocqueville Asset Management, and new investors have agreed to participate in the Private Placement for an aggregate amount of approximately $1.0 million in Tranche 1.  Certain directors and officers of the Company together with Electrum have agreed to participate in Tranche 2 for an aggregate amount of approximately $0.3 million, subject to shareholder approval.\nDiane Garrett, President and Chief Executive Officer of Nickel Creek, commented, \"We are very pleased with Electrum's co...