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Wellgreen Platinum Announces Closing of First Tranche of Financing With Electrum Strategic Opportunities Fund L.P. and Appointment of Two New Directors
Wellgreen Platinum Announces Closing of First Tranche of Financing With Electrum Strategic...
About this update from Nickel Creek Platinum Corp.
[{"type":"text","content":"\n\n\n\nWellgreen Platinum Announces Closing of First Tranche of Financing With Electrum Strategic Opportunities Fund L.P. and Appointment of Two New Directors\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\nWellgreen Platinum Announces Closing of First Tranche of Financing With Electrum Strategic Opportunities Fund L.P. and Appointment of Two New Directors\nCanada NewsWire\nVANCOUVER, March 28, 2016\n\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nVANCOUVER, March 28, 2016 /CNW/ - Wellgreen Platinum Ltd. (\"Wellgreen Platinum\" or the \"Company\") (TSX: WG; OTC-QX: WGPLF) is pleased to announce that it has closed the first tranche (the \"First Tranche\") of its previously announced private placement (the \"Private Placement\") with Electrum Strategic Opportunities Fund L.P. (\"Electrum\") for gross proceeds to the Company of $2,800,000.  14,000,000 units (each, a \"Unit\") were issued to Electrum in the First Tranche. The Units are comprised of one common share in the capital of the Company and one common share purchase warrant (a \"Warrant\"). Each Warrant will entitle Electrum to purchase one common share in the capital of Wellgreen Platinum at a price of $0.27 for a period of five (5) years following the closing of the First Tranche.  Pursuant to the unit purchase agreement between the Company and Electrum dated March 9, 2016 (the \"Purchase Agreement\") the Company may sell up to an additional 1,500,000 Units (the \"Additional First Tranche Units\") to other subscribers in connection with the closing of the First Tranche. It is currently expected that the Additional First Tranche Units will be sold on or about April 1, 2016.  \n\nThe Company intends to sell up to an additional 55,000,000 Units in a second tranche of the Private Placement (the 'Second Tranche\").  This is 10,000,000 more Units than previously announced due to strong demand from existing shareholders.  36,000,000 of the Units in the Second Tranche will be sold to Electrum in...