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Prophecy Platinum (TSXV:NKL,OTCQX:PNIKF,FWB:P94P) announced that the Company has arranged a non-brokered private placement of 3,000,000 shares at a price of $2.70 per share to raise aggregate gross proceeds of $8,100,000.
As quoted in the press release:
Company Insider Sprott Asset Management LP, on behalf of various funds and managed accounts, have committed up to 25% of this financing. Additional insiders of the Company are expected to subscribe at $2.72 per share pursuant to the policies of the TSX Venture Exchange.
Closing of the placement is anticipated to occur on or before November 11, 2011.
Click here to read the Prophecy Platinum (TSXV:NKL,OTCQX:PNIKF,FWB:P94P) press release
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