Wellgreen Platinum Ltd. (TSXV:WG,OTCQX:WGPLF) has completed its previously announced bought deal financing led by Dundee Securities Ltd., along with Edgecrest Capital Corporation, Haywood Securities Inc. and Mackie Research Capital Ltd. as underwriters, together with H.C. Wainwright & Co., LLC as U.S. Placement Agent. Wellgreen will put the net proceeds of the offering toward the initiation of Pre-feasibility studies on its flagship Wellgreen PGM-nickel-copper project, and towards further exploration and development of its properties as well as for general corporate purposes.
As quoted in the press release:
Pursuant to the Offering, 10,615,650 units of the Company (the “Units”) were issued, at a price of C$0.65 per Unit, for total gross proceeds of C$6,900,172, representing the base offering size of 9,231,000 Units and the exercise in full of the over-allotment option for an additional 1,384,650 Units.
Wellgreen CEO, Greg Johnson, said:
The Company appreciates the high level of participation from our existing shareholders and the strong level of interest from new investors in this offering. These funds will facilitate the continued advancement of our flagship Wellgreen project and will enable us to take full advantage of the field season to initiate Pre-feasibility-level work, while we finalize engineering on the updated Preliminary Economic Assessment.