Canadian Platinum Corp. (“CPC” or the “Company” – TSXV:CPC) announces that the Company has closed its previously announced non-brokered private placement of flow-through (“FT”) units (“Units”), for gross proceeds of $310,000 (the “Offering”).
Canadian Platinum Corp. (“CPC” or the “Company” – TSXV:CPC) announces that the Company has closed its previously announced non-brokered private placement of flow-through (“FT”) units (“Units”), for gross proceeds of $310,000 (the “Offering”). The Offering consisted of the issuance of an aggregate of 12,400,000 FT Units at a price of $0.025 per Unit. Each Unit consists of one FT common share in the capital of the Company (“Common Share”) and one common share purchase warrant (“Warrant”) with each full Warrant entitling the holder to acquire one Common Share at a price of $0.05 per Common Share, for a period of 24 months from the closing of the Offering. The Common Shares are designated as flow-through shares under the Income Tax Act (Canada).
The Company expects to close the non flow-through component of the private placement, consisting of up to 45,000,000 Units at a price of $0.025 per unit, shortly.
It is expected that 100% of the proceeds of the FT private placement will be used to advance Company projects in Saskatchewan, Canada.
In connection with the Offering, the Company has received conditional listing approval from the TSX Venture Exchange (“TSXV”) and completion of Offering is subject to a number of customary conditions including, but not limited to, the receipt of all necessary approvals, including the final approval of the TSXV. All securities issuable pursuant to the Offering subject to a four month hold period from the date of issuance in accordance with applicable Canadian securities laws.
About Canadian Platinum Corp.
Canadian Platinum Corp. is a Canadian-based resource exploration and development company with its head office in Saskatoon, SK. CPC is focused on the acquisition and development of a diversified portfolio of resource properties including precious metals, base metals, platinum group elements and strategic metals including cobalt.
CANADIAN PLATINUM TRADES ON THE TSX VENTURE EXCHANGE UNDER THE SYMBOL “CPC”.
For more information, including news releases and technical reports providing more detail on the contents of this news release, please visit our website at www.canplats.ca.
For further information:
Canadian Platinum Corp.
Gary Billingsley, President
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CAUTION REGARDING FORWARD LOOKING STATEMENTS
Certain statements contained herein constitute forward-looking statements. Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this release and except as required by law, the Corporation does not undertake any obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release may contain statements within the meaning of safe harbour provisions as defined under United States Securities Laws and Regulations. The above statements are based on the current expectations and beliefs of the management of Canadian Platinum and are subject to a number of risks and uncertainties that may cause the actual results to differ materially from those described above.