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PACIFIC COAST NICKEL ANNOUNCES FLOW THROUGH PRIVATE PLACEMENT
PACIFIC COAST NICKEL ANNOUNCES FLOW THROUGH PRIVATE PLACEMENT
About this update from Nickel Creek Platinum Corp.
[{"type":"text","content":"\nPACIFIC COAST NICKEL ANNOUNCES FLOW THROUGH PRIVATE PLACEMENT\n\n\n Aug. 3, 2010 (TheNewswire.ca) -- Vancouver B.C. August 3, 2010: Pacific Coast Nickel (OOTC:PNIKF) (TSXV:NKL) Corp. (NKL: TSX-V)(the \"Company\") is pleased to announce a non-brokered private placement of up to $275,792.10 (the \"Financing\") through the sale of up to 5,090,000 flow through units (the \"FT Units\") at a price of $0.05 per FT Unit, of which 5,000,000 FT Units shall be subscribed for by the MineralFields Group and the sale of 425,842 flow through shares at a price of $0.05 per flow through share. The funds raised are to be utilized to further exploration work on the Company's Burwash project in the Yukon Territory. The Burwash project is located adjacent to the Wellgreen Mine, a former nickel and copper producer which is being explored by Northern Platinum Ltd. (TSXV:NTH) \"We are very pleased to be entering into this relationship with MineralFields Group\", said James Walchuck, CEO. \"This is an important milestone in the growth of the Company and we look forward to working with the MineralFields Group as we continue to develop the Burwash project\".In connection with the Financing, the Company will issue to subscribers, up to 5,090,000 units of the Company at a price of $0.05 per unit and 425,842 flow through shares at a price of $0.05 per flow through share. Each unit will be comprised of one (1) flow-through common share of the Company and one-half (1/2) of a share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one (1) non flow-through common share of the Company for a period of two years from the closing of the Financing, at a price of $0.10 per share.For arranging the participation of the MineralFields group in the Financing, Limited Market Dealer Inc. will be paid a cash commission for the portion of the financing subscribed for by companies affiliated with MineralFields equal to 4% of the gross proceeds and will receive options entitling it to purchase 500,000 units of the Company. Each unit issuable to Limited Market Dealer Inc. will be exercisable for a period of 2 years at a price of $0.05 per unit and will be comprised on one (1) non flow-through common share of the Company and one-half (1/2) of a warrant. Each whole warrant will be exercisable on the same terms as the warrants to be issued to subscri...