Prophecy Platinum Closing $7.25 Million Placement on July 31st

Prophecy Platinum Corp. (TSXV:NKL,OTCQX:PNIKF,FWB:P94P) amended and scheduled today to close non-brokered private placement of units and flow through shares totaling $7.25 million.

5,067,208 Units will be sold at a price of $1.20 per Unit to generate gross proceeds of approximately $6,080,650. Each Unit comprises of one common share and a half (1/2) share purchase warrant valid for 2 years. One whole warrant will entitle the holder thereof to acquire one additional common share at a price of $1.50 per share in the first year and $2.00 per share in the second year. The warrants are subject to 30 day accelerated conversion if the closing price of the Company’s shares on the TSX Venture Exchange is $2.80 or above for a period of 10 consecutive days.

Click here to read the Prophecy Platinum (TSXV:NKL,OTCQX:PNIKF,FWB:P94P) press release

Click here to see the Prophecy Platinum (TSXV:NKL,OTCQX:PNIKF,FWB:P94P) profile