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OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION
DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO
THE UNITED STATES/
OAKVILLE, ON, Sept. 12,
2024 /CNW/ - Nickel Creek Platinum Corp. (TSX: NCP)
("Nickel Creek" or the "Company") is pleased to
announce that it intends to raise capital by way of a non-brokered
private placement for aggregate gross proceeds to the Company of up
to $0.6 million (the "Private
Placement"). The Private Placement will consist of the sale of
common shares of the Company (each, a "Common Share") at a
price of $0.90 per Common
Share.
The net proceeds from the Private Placement will be used for
general corporate purposes.
In connection with the Private Placement, the Company's largest
shareholder, Electrum Strategic Opportunities Fund L.P.
("Electrum"), has indicated its intention to invest
approximately $0.45 million in the
Private Placement.
The closing of the Private Placement is expected to occur on or
around September 26, 2024 and remains
subject to the approval of the Toronto Stock Exchange and other
customary closing conditions for a transaction of this nature. The
Common Shares will be issued on a private placement basis pursuant
to exemptions from prospectus requirements under applicable
securities laws and will be subject to a statutory hold period of
four months and one day from the date of issuance of the Common
Shares.
Pursuant to Multilateral Instrument 61-101 - Protection of
Minority Security Holders in Special Transactions ("MI
61-101"), the Private Placement would constitute a "related
party transaction" as Electrum (and certain other insiders of the
Company) will subscribe for Common Shares. These transactions will
be exempt from the formal valuation and minority shareholder
approval requirements of MI 61-101, as the fair market value of any
Common Shares subscribed for by insiders pursuant to the Private
Placement will not exceed 25% of the Company's market
capitalization.
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 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, 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 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 relating to the Private Placement, the timing of closing
of the Private Placement, insider participation in the Private
Placement, 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.sedarplus.ca. 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.