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Wellgreen Platinum Announces Participation by Electrum Strategic Opportunities Fund L.P. in Private Placement
Wellgreen Platinum Announces Participation by Electrum Strategic Opportunities Fund L.P. i...
About this update from Nickel Creek Platinum Corp.
[{"type":"text","content":"\n\n\n\nWellgreen Platinum Announces Participation by Electrum Strategic Opportunities Fund L.P. in 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\nWellgreen Platinum Announces Participation by Electrum Strategic Opportunities Fund L.P. in Private Placement\nCanada NewsWire\nVANCOUVER, June 28, 2016\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, June 28, 2016 /CNW/ - Wellgreen Platinum Ltd. (TSX: WG; OTC-QX: WGPLF) (\"Wellgreen Platinum\" or the \"Company\") is pleased to announce that Electrum Strategic Opportunities Fund L.P. (\"Electrum\") has indicated that it intends to participate in the previously announced private placement of common shares, at a price of C$0.30 per share, by Board members of Wellgreen Platinum (the \"Private Placement\").  Electrum, which has a pro rata right pursuant to the terms of a unit purchase agreement between the Company and Electrum dated March 9, 2016, will subscribe for 4,359,333 common shares, which is over and above its pro rata entitlement.  Electrum's subscription will result in gross proceeds to the Company of approximately C$1,307,800.\n\nAssuming the exercise in full of all remaining pro rata rights, the Private Placement is expected to result in the issuance of approximately 6,872,587 common shares, for gross proceeds to the Company of approximately C$2,061,776.  If no remaining pro rata rights are exercised, the Private Placement is expected to result in the issuance of approximately 6,135,833 common shares, for gross proceeds to the Company of approximately C$1,840,750.\n\nDiane R. Garrett, the Company's President and Chief Executive Officer, commented, \"We are thrilled by the continued support of Electrum, and look forward to working with them, and with all stakeholders, to move the Wellgreen project and the Company forward\".\n\nThe Private Placement is subject to, among other things, receipt of all applicable regulatory approvals, including approval of the Toronto Stock Excha...