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Wellgreen Platinum Announces Participation by Resource Capital Fund
Jun. 29, 2016 08:38AM PST
Precious MetalsWellgreen Platinum (TSX:WG) has announced that Resource Capital Fund VI L.P. has indicated its intent to participate in Wellgreen’s previously announced private placement of common shares at a $0.30 per common share, having a pro-rata right pursuant to the terms of an ancillary rights agreement between Wellgreen and RCF. As quoted in the press release: …
Wellgreen Platinum (TSX:WG) has announced that Resource Capital Fund VI L.P. has indicated its intent to participate in Wellgreen’s previously announced private placement of common shares at a $0.30 per common share, having a pro-rata right pursuant to the terms of an ancillary rights agreement between Wellgreen and RCF.
As quoted in the press release:
The Private Placement is subject to, among other things, receipt of all applicable regulatory approvals, including approval of the Toronto Stock Exchange (“TSX”). All Shares issued in the Private Placement will be subject to a statutory four month hold period.
The net proceeds of the Private Placement will be used for the development of the Company’s Wellgreen PGM-nickel project in the Yukon and for general corporate purposes.