Wellgreen Platinum Announces C$6 Million Bought Deal Financing

- June 12th, 2014

Wellgreen Platinum Ltd. (TSXV:WG,OTCQX:WGPLF) has entered into an agreement with Dundee Securities Ltd., on behalf of a syndicate of underwriters with H.C. Wainwright & Co., LLC in order to act as a U.S. Placement Agent, to purchase, on a “bought deal” basis by way of a base shelf short form prospectus, 9,231,000 units of Wellgreen at a price of C$0.65 per unit for gross proceeds totalling C$6,000,150

Wellgreen Platinum Ltd. (TSXV:WG,OTCQX:WGPLF) has entered into an agreement with Dundee Securities Ltd., on behalf of a syndicate of underwriters with H.C. Wainwright & Co., LLC in order to act as a U.S. Placement Agent, to purchase, on a “bought deal” basis by way of a base shelf short form prospectus, 9,231,000 units of Wellgreen at a price of C$0.65 per unit for gross proceeds totalling C$6,000,150.

As quoted in the press release:

Each Unit shall consist of one common share (“Share”) of the Company and one full common share purchase warrant (“Warrant”). Each Warrant shall entitle the holder thereof to acquire one Share of the Company at a price of $0.90 for a period of 24 months following the Closing Date. In the event that the Company’s Shares trade at a closing price at or greater than $1.35 per Share for a period of 10 consecutive trading days, at any time following the closing of the Offering, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.

Click here to read the Wellgreen Platinum (TSXV:WG) press release

See this press release on Marketwire

Leave a Reply