Nickel Creek Platinum Corp. (NCP) is excited to announce its intention to raise capital through a non-brokered private placement, aiming to secure aggregate gross proceeds of up to $0.6 million. This initiative will involve the issuance of common shares of the company (Common Shares) at a price of $0.90 per share. The funds raised from this private placement will be utilized for general corporate purposes, contributing to the company’s ongoing operations and strategic initiatives.
Electrum Strategic Opportunities Fund L.P. (Electrum), the company’s largest shareholder, has indicated its commitment to the private placement, pledging to invest approximately $0.45 million. The completion of the private placement is projected to take place on or around September 26, 2024, contingent upon the approval of the Toronto Stock Exchange and the fulfillment of customary closing conditions for transactions of this nature.
The Common Shares will be issued through a private placement, adhering to exemptions from prospectus requirements under applicable securities laws. These shares will be subject to a statutory hold period of four months and one day from the date of issuance.
As per Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (MI 61-101), this private placement qualifies as a “related party transaction” due to the participation of Electrum and certain other company insiders in subscribing for Common Shares. However, these transactions will be exempt from the formal valuation and minority shareholder approval requirements outlined in MI 61-101, as the fair market value of any Common Shares subscribed for by insiders through the private placement will not surpass 25% of the company’s market capitalization.
Nickel Creek Platinum Corp. is a Canadian mining exploration and development company, with its primary asset being the 100%-owned Nickel Shaw Project. This project is a large, undeveloped nickel sulphide deposit situated in one of the world’s most favorable jurisdictions. The Nickel Shaw Project boasts a unique combination of metals, including copper, cobalt, and platinum group metals. Its strategic location, just three hours west of Whitehorse via the paved Alaska Highway, provides exceptional access to infrastructure, including year-round access to deep-sea shipping ports in southern Alaska. The company is led by a management team with a proven track record of success in the discovery, development, financing, and operation of large-scale projects.
Nickel Creek Platinum’s vision is to create significant value for its shareholders by establishing itself as a leading North American producer of nickel, copper, cobalt, and platinum group metals.
