Prophecy Resource Corp. and Northern Platinum Ltd. Sign Business Combination Agreement

Prophecy Resource Corp. (TSX VENTURE:PCY)(OTCBB:PRPCF)(FRANKFURT:1P2) and Northern Platinum Ltd. (TSX VENTURE:NTH) announced that they have entered into a binding letter of agreement for a Business Combination through a proposed all share transaction.

The news is quoted saying:

Prophecy is also pleased to announce that it has signed a definitive agreement with Belleterre Quebec Mines Ltd, of Quebec, Canada (“Belleterre”) to acquire their 50% Back-in right (“Back-in”) on Northern Platinum’s Wellgreen project (currently 100% Northern with a 50% Back-in right to Belleterre).

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