Nickel Creek Platinum Corp. (NCP) is pleased to announce the successful completion of its previously announced non-brokered private placement. The placement raised a total of $0.45 million through the issuance of 505,000 common shares at a price of $0.90 per share.
Electrum Strategic Opportunities Fund L.P., the Company’s largest shareholder, acquired all the shares issued in the private placement. The net proceeds will be used for general corporate purposes.
All common shares issued under the private placement are subject to a four-month and one-day statutory hold period from the closing date. The private placement qualifies as a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (MI 61-101). However, these transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 because the fair market value of the shares subscribed by insiders does not exceed 25% of the Company’s market capitalization.
Nickel Creek Platinum Corp. (NCP NCPCF) is a Canadian mining exploration and development company focused on its 100%-owned Nickel Shäw Project. Located in one of the world’s most favorable jurisdictions, the Nickel Shäw Project is a large undeveloped nickel sulfide project with significant reserves of copper, cobalt, and platinum group metals. Its exceptional access to infrastructure, just three hours west of Whitehorse via the paved Alaska Highway, provides year-round access to deep-sea shipping ports in southern Alaska.
The Company is led by a management team with a proven track record in successful discovery, development, financing, and operation of large-scale projects. Their vision is to establish Nickel Creek as a leading North American producer of nickel, copper, cobalt, and PGMs, generating value for shareholders.
