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Wellgreen Platinum Closes Second Tranche of Private Placement Financing with Electrum and Resource Capital Fund
Wellgreen Platinum Closes Second Tranche of Private Placement Financing with Electrum and ...
About this update from Nickel Creek Platinum Corp.
[{"type":"text","content":"\n\n\n\nWellgreen Platinum Closes Second Tranche of Private Placement Financing with Electrum and Resource Capital Fund\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 Second Tranche of Private Placement Financing with Electrum and Resource Capital Fund\nCanada NewsWire\nVANCOUVER, April 27, 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 27, 2016 /CNW/ - Wellgreen Platinum Ltd. (\"Wellgreen Platinum\" or the \"Company\") (TSX: WG; OTC-QX: WGPLF) is pleased to announce that it has closed part of the second tranche (the \"Second Tranche\") of its previously announced private placement financing (the \"Private Placement\"), with 36,000,000 units (each, a \"Unit\") having been placed with Electrum Strategic Opportunities Fund L.P. (\"Electrum\") and 6,107,464 Units having been placed with Resource Capital Fund VI L.P. (\"RCF\"), for gross proceeds to the Company of approximately $8.4 million.  Together with the aggregate gross proceeds of $3.1 million that the Company received under the first tranche of the Private Placement as announced on April 11, 2016, the Company has raised approximately $11.5 million to date under the Private Placement, with Electrum having acquired 50,000,000 Units.\n\nThe 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\nPursuant to the terms of a unit purchase agreement between the Company and Electrum dated March 9, 2016, Electrum has the right to designate an additional nominee to the Board of Directors of the Company. The Company understands that Electrum expects to exercise its right in due course.\n\nThe Company intends to complete the remaining portion of the Second Tranche, being the sale of up to an additional 12,892,536 Units (the \"Additi...