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Wellgreen Platinum Closes Remainder of First Tranche Financing
Wellgreen Platinum Closes Remainder of First Tranche Financing Wellgreen Platinum ...
About this update from Nickel Creek Platinum Corp.
[{"type":"text","content":"\n\n\n\nWellgreen Platinum Closes Remainder of First Tranche Financing\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 Closes Remainder of First Tranche Financing\nCanada NewsWire\nVANCOUVER, April 11, 2016\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nVANCOUVER, April 11, 2016 /CNW/ - Wellgreen Platinum Ltd. (\"Wellgreen Platinum\" or the \"Company\") (TSX: WG; OTC-QX: WGPLF) is pleased to announce that it has completed the remainder of the first tranche (the \"First Tranche\") of its previously announced private placement (the \"Private Placement\") for aggregate gross proceeds to the Company thus far of $3,100,000.  As a result of the closing of the First Tranche, 15,500,000 units (each, a \"Unit\") in the aggregate were issued to various subscribers, including 14,000,000 Units which were placed with Electrum Strategic Opportunities Fund L.P. (\"Electrum\") on March 24, 2016 and 1,500,000 Units which were placed with certain existing shareholders on April 8, 2016 (the \"Remaining First Tranche Units\").  The Remaining First Tranche Units were sold at $0.20 per Unit for additional gross proceeds to the Company of $300,000.  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 its holder to purchase one common share in the capital of Wellgreen Platinum at a price of $0.27 for a period of five (5) years from its date of issue.    \n\nWellgreen Platinum intends to sell up to an additional 55,000,000 Units in a second tranche of the Private Placement (the \"Second Tranche\"), of which 36,000,000 Units will be placed with Electrum subject to the terms of the unit purchase agreement entered into between Electrum and the Company dated March 9, 2016.  Members of the Company's senior management team have subscribed for an aggregate of 1,499,000 Units in the Second Tranche. \n\nThe Second Tranche is expected to close in M...