Prophecy Platinum Corp.(TSXV:NKL) announced that it will be undertaking a $20 million brokered private placement. The placement will consist of special warrants at a price of $2.25 and flow-through warrants at a price of $2.50 per unit.
As quoted in the press release:
Each Special Warrant will entitle the holder thereof, upon exercise of each Special Warrant, to receive, without payment of additional consideration, one common share of the Company (a “Special Warrant Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one additional common share (a “Warrant Share”) at a price of $3.00 per Warrant Share for a period of 24 months.