/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/
OAKVILLE, ON, Sept. 26,
2024 /CNW/ - Nickel Creek Platinum Corp. (TSX:
NCP) ("Nickel Creek" or the "Company") is pleased to
announce that it has closed on its previously announced
non-brokered private placement (the "Private Placement")
pursuant to which the Company has issued a total of 505,000 common
shares of the Company (each, a "Common Share") at a price of
$0.90 per Common Share for gross
proceeds of approximately $0.45
million. The Company's largest shareholder, Electrum
Strategic Opportunities Fund L.P. ("Electrum"), acquired all
of the Common Shares issued in the Private Placement.
The net proceeds from the Private Placement will be used for
general corporate purposes.
All Common Shares issued under the Private Placement are subject
to a statutory hold period of four months and one day from the date
of closing.
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 with respect to 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.