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Wellgreen Platinum Closes Remainder of Private Placement Financing
Wellgreen Platinum Closes Remainder of Private Placement Financing Wellgreen Plati...
About this update from Nickel Creek Platinum Corp.
[{"type":"text","content":"\n\n\n\nWellgreen Platinum Closes Remainder of Private Placement 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 Private Placement Financing\nCanada NewsWire\nVANCOUVER, May 3, 2016\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nVANCOUVER, May 3, 2016 /CNW/ - Wellgreen Platinum Ltd. (\"Wellgreen Platinum\" or the \"Company\") (TSX: WG; OTC-QX: WGPLF) is pleased to announce that it has closed the remainder of the second tranche (the \"Second Tranche\") of its previously announced private placement financing (the \"Private Placement\"). An additional 12,892,536 Units (each, a \"Unit\") have been placed with a number of subscribers including the Company's management team who, collectively, subscribed for 1,419,000 Units. 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\nAs a result of the Private Placement, the Company has issued a total of 70.5 million Units for gross aggregate proceeds of $14.1 million. The net proceeds of the Private Placement will be used for the development of the Wellgreen PGM-nickel project in the Yukon and for general corporate purposes.\n\nJohn Sagman, Wellgreen Platinum's Interim President & COO, commented, \"We are pleased to have concluded a successful financing, demonstrated by the participation of RCF and some of our largest long-standing shareholders, and we welcome the addition of Electrum as a significant shareholder of the Company.\"\n\nMyron Manternach, Wellgreen Platinum's Chairman, added, \"With this substantial financing and the support of two highly regarded mining private equity funds, Electrum and RCF, Wellgreen Platinum is in a strong position to move the Wellgreen PGM-Nickel Project forward to create share...