/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION
DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO
THE UNITED STATES./
TORONTO, June 17, 2020 /CNW/ - Nickel Creek Platinum Corp.
(TSX: NCP) ("Nickel Creek" or the "Company") is
pleased to announce that it has closed a third and final tranche of
its previously announced private placement (the "Private
Placement") pursuant to which the Company issued a total of
25,909,091 "flow-through" units ("FT Units") at a price of
$0.055 per FT Unit for aggregate
gross proceeds to the Company of approximately $1.425 million (the "Flow-Through
Offering"). Each FT Unit consists of one "flow-through" common
share and one common share purchase warrant (each a "FT
Warrant"), with each FT Warrant exercisable for one common
share at an exercise price of $0.10
for a period of five years from the date of issuance, subject to
adjustment upon certain customary events.
The Company received shareholder approval of the second and
third tranches of the Private Placement at the Company's annual
general and special meeting held on June
2, 2020. The Company previously closed the first two
tranches of the Private Placement for aggregate gross proceeds of
$2.2 million ($672 thousand on April 7,
2020 and $1.528 million on
June 5, 2020). The aggregate gross
proceeds raised pursuant to the Private Placement, including the
Flow-Through Offering, is approximately $3.625 million.
The gross proceeds from the Flow-Through Offering will be used
towards the 2020 exploration program and the gross proceeds will be
used by the Company to fund "Canadian exploration expenses" that
will qualify as "flow-through mining expenditures", each as defined
under the Income Tax Act (Canada).
In connection with the Flow-Through Offering, certain finders
received payment of a finder's fee equal to 6% of the gross
proceeds received by the Company from the sale of FT Units, which
finder's fees were payable in Units at an implied issue price of
the FT Units.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities in the United States nor shall there be any sale
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities have not
been and will not be registered under the United States Securities
Act of 1933, as amended (the "1933 Act"), or any state
securities laws and may not be offered or sold in the United States unless registered under the
1933 Act and any applicable securities laws of any state of
the United States or an applicable
exemption from the registration requirements is available.
About Nickel Creek Platinum Corp.
Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a
Canadian mining exploration and development company and its
flagship asset is its 100%-owned Nickel Shäw project. The Nickel
Shäw project is 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. The Company is also investigating other opportunities
for shareholder value creation.
The Company is led by a management team with a proven track
record of successful discovery, development, financing and
operation of large-scale projects. Our vision is to create value
for our shareholders by becoming a leading North American nickel,
copper, cobalt and PGM producer.
Cautionary Note Regarding Forward-Looking Information
This news release includes certain information that may be
deemed "forward-looking information". Forward-looking information
can generally be identified by the use of forward-looking
terminology such as "may", "will", "expect", "intend", "believe",
"continue", "plans" or similar terminology, or negative
connotations thereof. All information in this release, other than
information of historical facts, including, without limitation,
statements with respect to the Company's 2020 exploration,
drilling, geophysics and sampling programs (and the results and
potential results thereof), and general future plans and objectives
for the Company and the Nickel Shäw project, are forward-looking
information that involve various risks and uncertainties. Although
the Company believes that the expectations expressed in such
forward-looking information are based on reasonable assumptions,
such expectations are not guarantees of future performance and
actual results or developments may differ materially from those in
the forward-looking information.
For more information on the Company and the key assumptions,
risks and challenges with respect to the forward-looking
information discussed herein, and about our business in general,
investors should review the Company's most recently filed annual
information form, and other continuous disclosure filings which are
available at www.sedar.com. Readers are cautioned not to place
undue reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
SOURCE Nickel Creek Platinum Corp.