Prophecy Platinum Arranges $11.25 Million Non-Brokered Private Placement

Prophecy Platinum Corp. (TSXV:NKL,OTCQX:PNIKF,FWB:P94P) arranged a non-brokered private placement of 5,000,000 units at a price of $2.25 per share to raise aggregate gross proceeds of $11,250,000, cancelling the overnight-marketed offering of special warrants announced on June 21, 2012.

Each private placement unit will be comprised of one share and one 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.

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