Brief: Wellgreen Platinum announces $10 mln equity investment

Nickel Creek Platinum

10/03/2016 14:12

March 10 (Reuters) - Wellgreen Platinum Ltd  WG.TO : 
 * Announces $10 million equity investment by Electrum Strategic Opportunities 
   Fund L.P 
 * Intends to issue up to 60.5 million units in two separate tranches, at 
   $0.20/unit by way of a non-brokered private placement 
 * Net proceeds of private placement will be used for development of company's 
   Wellgreen pgm-nickel project in the Yukon 
 * Says private placement for total gross proceeds of up to $12.1 million 
 * Upon closing of the second tranche of the private placement, electrum will 
   own a 26.9% equity interest in the company 
 
* Source text for Eikon  ID:nCNWnXqKla  
 
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