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Nickel Creek Platinum has announced a non-brokered private placement

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The company is looking to raise gross proceeds of up to $4.4 million from the placement of up to 73.3 million units priced at $0.06 per unit. Each unit consists of one share and one-half a warrant, with the full warrant exercisable at $0.10 for 60 months.

Additional Information:

Company: Nickel Creek Platinum
Website: http://www.nickelcreekplatinum.com
Stock Symbol: TSX: NCP
Date Published: Mar 11, 2020
Transcript: Available

Video Transcript:

I’m Nadika Viswakula for Investmentpitch Media

Nickel Creek Platinum has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $4.4 million from the placement of up to 73.3 million units priced at $0.06 per unit.

Each unit consists of one share and one-half a warrant, with the full warrant exercisable at $0.10 for 60 months.

Some of the $4.4 million may be raised as flow-through units at a price to be determined in the context of the market.

The shares are currently trading at $0.05.

The company's largest shareholder, Electrum Strategic Opportunities Fund L.P., has agreed to purchase any units that are unsubscribed for up to a maximum commitment of $2.2 million.

The company anticipates using the net proceeds to fund the investigation of strategic opportunities, ongoing permitting activities and holding costs at its Nickel Shaw Project, the 2020 exploration program, and general corporate and working capital purposes.

The company’s flagship asset is its 100%-owned Nickel Shäw Project, a large undeveloped nickel sulphide project in one of the most favourable jurisdictions in the world, with a unique mix of metals including copper, cobalt and platinum group metals.

The Nickel Shäw project has exceptional access to infrastructure and is located three hours west of Whitehorse via the paved Alaska Highway, which further offers year-round access to deep-sea shipping ports in southern Alaska.

In December, the company announced the results of its geophysics program on the Quill exploration target, which is adjacent to the main resource, but within the Nickel Shäw project land package.

The results of the geophysics program, which was designed to target areas of massive sulfides, identified several strong conductors and supports the company drill testing some of these targets.

The company is also investigating other opportunities for shareholder value creation.

For more information, please visit the company’s website at www.nickelcreekplatinum.com, contact Diane R. Garrett, President & CEO, at 416-304-9318 or by email at dgarrett@nickelcp.com.

I’m Nadika Viswakula for Investmentpitch Media