Nickel Creek Platinum Corp. (TSX: NCP) announced this morning that it has completed a previously announced private placement for aggregate proceeds of $3.6 million. The offering was completed via both flow through and non-flow through units.
The offering saw 6.4 million flow-through units at $0.11 per unit sold. Each unit consists of a flow-through common share and a warrant exercisable to purchase a common share at $0.15 per share within five years from the issuance date. Proceeds from the flow through financing amounted to $0.7 million.
The offering also consisted of 31.8 million non flow-through units at $0.09 per unit. Each unit contains one common share and one warrant to purchase a common share at $0.15 per share within five years from issuance.
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If exercised in full, the issued warrants would yield additional gross proceeds of approximately $5.8 million.
The company reports that the financing will be used to fund its 2021 exploration program, the investigation of strategic opportunities, ongoing permitting activities and holding costs at the Nickel Shäw Project, and for general corporate expenses and working capital purposes. On the other hand, gross proceeds from flow-through units will be used solely to fund “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as per the Income Tax Act.
Nickel Creek Platinum Corp. last traded at $0.10 on the TSX.
Information for this briefing was found via Sedar and Nickel Creek Platinum Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
