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Nickel Creek Platinum Announces Update on Non-brokered Private Placement
Nickel Creek Platinum Announces Update on Non-brokered Private Placement Canada Ne...
About this update from Nickel Creek Platinum Corp.
[{"type":"text","content":"\n\n\n\nNickel Creek Platinum Announces Update on Non-brokered 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, March 26, 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, March 26, 2020 /CNW/ - Nickel Creek Platinum Corp. (TSX: NCP) (\"Nickel Creek\" or the \"Company\") announces that the terms of the previously announced non-brokered private placement (see news release dated March 11, 2020) have been amended to reflect the current market conditions amid the Covid-19 outbreak. The Company now proposes to sell, on a non-brokered private placement basis, in up to two tranches, up to approximately 71.3 million units (the \"Units\") at a price of $0.05 per Unit and/or \"flow-through units\" for aggregate gross proceeds to the Company of up to approximately $3.7 million (collectively, the \"Private Placement\"). \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 up to $2.2 million of Units at $0.05 per Unit. 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 $0.10 for a period of five (5) years from the date of issuance, subject to adjustment upon certain customary events\nIn connection with funding the 2020 exploration program (see below), the Company also announces that it intends to complete an additional non-brokered private placement of up to approximately 27.3 million \"flow-through\" units of the Company (\"FT Units\") at a price of $0.055 per FT Unit for aggregate proceeds of approximately $1.5 million. Each FT Unit wi...