Base Metals

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 Nickel Creek Platinum Corp. (TSX: NCP) (" Nickel Creek " or the " Company ") is pleased to announce that it has closed its previously announced private placement (the " Private Placement ") pursuant to which the Company is issuing a total of 31,753,222 units (" Units ") for gross proceeds of approximately $2.9 million and 6,363,635 "flow-through" units (" FT Units ") for gross aggregate proceeds to the Company of $0.7 million for total gross proceeds of approximately $3.6 million .

The Units were priced at $0.09 with each Unit consisting of one common share in the capital of the Company (each, a " Common Share ") and one (1) common share purchase warrant (each, a " Warrant "), with each Warrant exercisable into one Common Share (each, a "Warrant Share ") at an exercise price of $0.15 for a period of five (5) years from the date of issuance, subject to adjustment upon certain customary events.  Each FT Unit was priced at $0.11 with each FT Unit consisting of one "flow-through" common share (each, a " FT Share ") and one common share purchase warrant (each, a " FT Warrant "), with each FT Warrant exercisable for one common share (each, a " FT Warrant Share ") at an exercise price of $0.15 for a period of five (5) years from the date of issuance, subject to adjustment upon certain customary events.

The Company is pleased to announce that its two largest shareholders participated in the Private Placement, as Electrum Strategic Opportunities Fund L.P. (" Electrum ") acquired 11,881,000 Units, and Drake Private Investments LLC (" Drake ") acquired 4,444,444 Units. Further, Igor Orishchenko, an existing shareholder, agreed to acquire 7,000,000 Units as part of the financing. Together, the strong support of these three existing shareholders represents approximately 60% of the Private Placement.

Stuart Harshaw , President and Chief Executive Officer of Nickel Creek, commented: "The participation of Electrum, Drake and Mr. Orishchenko in this Private Placement demonstrates significant endorsement for our flagship Nickel Shäw Project by our existing shareholders. We are pleased to be part of their high-quality portfolio and thank them for their continued support."

All shares and warrants issued under the Private Placement will be subject to a statutory four-month hold period from the date of closing.

In connection with the issuance of 5,000,000 Units and 6,363,635 FT Units, certain finders will receive payment of a finder's fee equal to 6% of the gross proceeds received by the Company from the sale of Units and FT Units, which finder's fees were payable in Units at an implied issue price of the Units.

The Warrants and FT Warrants, if exercised in full by the holders thereof, would represent additional gross proceeds to the Company of approximately $5.8 million .

The gross proceeds from the Private Placement will be used to fund the Company's 2021 exploration program, the investigation of strategic opportunities, ongoing permitting activities and holding costs at the Nickel Shäw Project, and for general corporate expenses and working capital purposes, with any gross proceeds derived from the sale of any FT Units being used by the Company solely to fund "Canadian exploration expenses" that will qualify as "flow-through mining expenditures", each as defined under the Income Tax Act ( Canada ).

Pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 "), the Private Placement constitutes a "related party transaction" as Electrum and Drake (and certain other insiders of the Company) have subscribed for Units. These transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of any Units or FT Units subscribed for by insiders pursuant to the Private Placement do not exceed 10% of the Company's market capitalization.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " 1933 Act "), or any state securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from the registration requirements is available.

About Nickel Creek Platinum Corp.

Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a Canadian mining exploration and development company and its flagship asset is its 100%-owned Nickel Shäw Project. The Nickel Shäw Project is a large undeveloped nickel sulphide project in one of the most favourable jurisdictions in the world, with a unique mix of metals including copper, cobalt and platinum group metals. The Nickel Shäw Project has exceptional access to infrastructure, located three hours west of Whitehorse via the paved Alaska Highway, which further offers year-round access to deep-sea shipping ports in southern Alaska.  The Company is also investigating other opportunities for shareholder value creation.

The Company is led by a management team with a proven track record of successful discovery, development, financing and operation of large-scale projects. Our vision is to create value for our shareholders by becoming a leading North American nickel, copper, cobalt and PGM producer.

Cautionary Note Regarding Forward-Looking Information

This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "believe", "continue", "plans" or similar terminology, or negative connotations thereof. All information in this release, other than information of historical facts, including, without limitation, statements with respect to the Company's 2021 exploration program (and the results and potential results thereof), and general future plans and objectives for the Company and the Nickel Shäw Project, are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information.

For more information on the Company and the key assumptions, risks and challenges with respect to the forward-looking information discussed herein, and about our business in general, investors should review the Company's most recently filed annual information form, and other continuous disclosure filings which are available at www.sedar.com . Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

SOURCE Nickel Creek Platinum Corp.

Cision View original content: http://www.newswire.ca/en/releases/archive/April2021/26/c2713.html

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Nickel Creek Platinum

Nickel Creek Platinum

Overview

Future demand for nickel is projected to reach an all-time high, with much of that growth coming from the electric vehicle industry. Within that industry alone, global nickel demand is expected to reach 2.6Mt by 2040 compared to only 92kt in 2020. Specifically, nickel is an important component of EV batteries, and the resulting demand is projected to rise 64 percent between 2019 and 2025 according to research firm Wood Mackenzie.Generating enough supply, however, is a continuing challenge. The nickel industry is slow to increase capacity efficiently, requiring significant shifts upward in nickel prices as demand rises before there is a supply response. High-profile industry experts like Robert Friedland, Executive Co-Chairman of Ivanhoe Mines and Elon Musk, CEO of Tesla, have expressed a need for more nickel production in the future, while CEO and Chairman of General Motors, Mary Barra, stated the need for electric vehicles in the future. Major automotive manufacturers have committed to hybrid and electric vehicles, and international government policies from the US, EU and China aim to continue this trend towards zero carbon emissions by 2050.

Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a Canadian mining exploration and development company focused on delivering value to stakeholders through diversified exposure to nickel, copper and platinum group metals (PGM) in Canada’s Yukon Territory. The Company’s principal business activity is the exploration and evaluation of its 100%-owned Nickel Shäw project, located in southwestern Yukon, Canada.

Nickel Creek Platinum’s Nickel Shäw project contains 1.9 billion pounds of nickel, 1.1 billion pounds of copper and nearly 6 million troy ounces of platinum, palladium and gold. Platinum-group metals (PGMs) account for approximately a quarter of the project’s resources and represent one of the larger PGM resources outside of South Africa and Russia. Copper, which is also critical to electric vehicle infrastructure, accounts for 13 percent, while cobalt, another necessary metal for the battery market, makes up 7 percent.

Nickel Creek Platinum enjoys the support of the Yukon government. The company has a strong relationship with the Kluane First Nation and the local community for the Nickel Shäw project. An Advisory Committee facilitates two-way communication to address any issues or concerns regarding the project. Nickel Creek also offers community support, training, and employment opportunities.

Nickel Creek has a strong commitment to ESG where it continues to collect baseline environmental data on its primary project for permitting purposes and is confirming the science behind the opportunity for carbon sequestration of the future tailings produced, ultimately illustrating a low-carbon footprint for the project.

Thanks to the mining-friendly Yukon Territory and positive relationships with the First Nations and local governments, Nickel Shäw is on its way to becoming one of the most productive initiatives in the industry.

The US and Canada both see nickel and cobalt as critical metals of strategic importance, and Stuart Harshaw, President and CEO of Nickel Creek, is confident the organization can help fulfil the need, stating that “… we have completed extensive metallurgical testwork on the full representation of the deposit to produce a product that can go to market. With our higher value per tonne than other similar projects, Nickel Creek Platinum is well positioned to move forward.” Mr. Harshaw sees the company “producing nickel for over 25 years.”

Company Highlights

  • Nickel Creek Platinum is focused on the Nickel Shäw project, which hosts one of the most promising deposits for nickel, copper, cobalt, and PGMs in the world thanks to pre-existing regional infrastructure and an expansive open-pit potential.
  • The Nickel Shäw project location is ideal and low-risk, offering access to the Alaska Highway. The company has long-term relationships with large institutional shareholders, and management has proven experience in related markets and project operations.
  • Nickel in general is a vital component in battery technologies and will have a variety of uses for the growing electric vehicle market.
  • Nickel Creek Platinum is dedicated not only to providing value for shareholders but also achieving a carbon neutral future in a way that is socially responsible. The organization is working with First Nations groups as well as local governments to minimize waste and promote positive environmental and social impacts.

Key Project

Nickel Shäw Project

An undeveloped nickel sulphide location in the Yukon, the Nickel Shäw project boasts a favourable location and a diverse resource base of various metals including copper, cobalt, and PGMs. Investors will be exposed to several different metals when working with Nickel Creek Platinum.

The project hosts over:

  • 1.9 billion pounds of nickel
  • 1.1 billion pounds of copper
  • 5.7 million ounces of PGMs
  • 107 million pounds of cobalt

The project is located southwest of Canada’s Yukon Territory, approximately 300 kilometres west-northwest of the capital, Whitehorse. This locale grants the project exceptional infrastructure, including the paved Alaska Highway and its year-round access to deep sea shipping ports in Haines and Skagway. There is potential for railway access in the future as well as options for renewable energy with the local community.

Management Team

Stuart Harshaw, B.Sc., MBA — President, CEO, Director

Stuart Harshaw is a seasoned mining executive with a successful international career with Vale SA and Inco Limited. Most recently, as Vice President of Ontario Operations for Vale, Mr. Harshaw was responsible for the Base Metal operations of Vale in Ontario that included six underground mines, a mill, smelter, nickel refinery, cobalt refinery, precious metal refinery, and hydro-electric production facilities.

He previously held various senior roles with Vale including marketing and sales for a broad range of metal concentrates and finished metals worldwide.

Since leaving Vale, he has been consulting in the global mining business and is a member of the Board of Directors of several mining companies, as well as the Laurentian University of Sudbury, Canada. Mr. Harshaw earned a BSc. in Metallurgical Engineering from Queen’s University and an MBA from Laurentian University.

Joe Romagnolo, CPA, CA, B. Comm. — Senior Vice President and Chief Financial Officer

Joe Romagnolo has extensive experience in the mining sector and in all areas of external financial reporting, budgeting, compliance, and cash flow management. He has also implemented financial reporting systems at all stages of a company’s growth and development from exploration to construction.

Mr. Romagnolo was recently with OceanaGold Corporation and Romarco Minerals Inc. He was responsible for the successful conclusion of over $500 million in equity financings and integrally involved in a US$200 million project debt financing with a syndicate of international banks with Romarco.

Before that role, Mr. Romagnolo was Corporate Controller of Centenario Copper Corporation, Atlas Cold Storage, and The Molson Companies Limited. Mr. Romagnolo is a Chartered Professional Accountant (CPA, CA) and is a member of the Institute of Chartered Professional Accountants of Ontario.

Heather White, P. Eng. — Advisor to Technical Committee of the Board of Directors

Heather White has over 20 years of experience in the mining industry where she has served in senior operating and executive roles with major companies like NOVAGOLD Resources, Vale Canada, and Voisey’s Bay Nickel Company. She was also the Chief Mine Engineer and subsequently Mine Manager for Voisey’s Bay, where she was responsible for development of the Feasibility Study through to mine operations.

Ms. White is a Professional Mining Engineer and President of White Mining Consulting Inc. She offers her advisory services, including Qualified Person and Project Management services for resource development, scoping analysis, PEA, PFS, and FS level mining studies to a diverse group of clients that includes The Electrum Group LLC, NOVAGOLD Resources Inc., Trilogy Metals Inc., and most recently Nickel Creek Platinum Corp.

During her time at Vale, Ms. White gained extensive experience in the nickel market, having planned and managed the worldwide nickel supply chain for Vale. Her duties involved the alignment of production of all products at all finished nickel smelting and refining facilities with market demand.

Myron Manternach, B.Sc., MBA — Chairman of Board of Directors

Mr. Manternach is President of Castle Grove Capital, LLC, an investment firm that provides strategic and financial advice, and raises capital for institutional investors and portfolio companies. He has over 25 years of experience in corporate finance, mergers and acquisitions, and corporate issuers. Mr. Manternach worked as an investment banker at JPMorgan Chase & Co. and as an analyst and manager of institutional investment funds with extensive experience in the mining and metals industry. Most recently he was Executive Vice President, Finance and Corporate Development at Lithium Americas Corp., and Managing Director and Senior Portfolio Manager of Ambac Assurance Corp., a subsidiary of Ambac Financial Group. He has been a director of Nickel Creek Platinum Corp. since July 2012 and was previously a director of Lithium Americas Corp. prior to its merger with Western Lithium Corp. Mr. Manternach holds a B.Sc. degree in Electrical Engineering with distinction from Iowa State University and an MBA from the Wharton School of the University of Pennsylvania.

Mike Sylvestre, M.Sc., P.Eng. — Director

Mr. Sylvestre is currently the Senior Vice-President, Americas Operations, for Kinross Gold Corporation. For most of his career, Mr. Sylvestre worked with Inco Ltd. where he held senior management positions domestically and internationally. Most notably, he was the Chief Executive Officer of Vale Inco, New Caledonia, President of Vale Inco, Manitoba Operations and the Vice President of Operations PT Inco, Indonesia. Mr. Sylvestre was also previously the President and Chief Executive Officer of Castle Resources Inc. and the Interim Chief Executive Officer of Claude Resources Inc. as well as Chair of the Board. Mr. Sylvestre brings over 40 years of mining experience to Nickel Creek Platinum. Mr. Sylvestre holds a M.Sc. and a B.Sc. in Mining Engineering from McGill University and Queen’s University, respectively. He is a member of the Professional Engineers of Ontario and the Canadian Institute of Mining. Mr. Sylvestre is also a graduate of the directors’ education program offered by the Institute of Corporate Directors (ICD) in partnership with the Rotman School of Management, University of Toronto.

Michele S. Darling — Director

Ms. Darling has over 30 years of global business experience, with particular expertise in Human Resources Management and Corporate Governance. She is the President of Michele Darling and Associates Inc., a management consulting business that provides human resources and strategic planning consulting services to Canadian and American businesses. Prior to establishing her consulting practice, Ms. Darling was the Executive Vice President, Corporate Governance and Human Resources, with Prudential Financial, Inc. from 1996 to 2002. She played a very significant role in the transformation of Prudential Financial from a mutual company into a public company and was honoured as Human Resources Executive of the Year in 2000. From 1991 to 1996, she was the Executive Vice President, Human Resources at Canadian Imperial Bank of Commerce, having joined the bank in corporate banking. Ms. Darling also held various Human Resources positions during her 10 years with The Oshawa Group Limited. Ms. Darling was a Director with Stornoway Diamond Corporation during 2018 and 2019 and a Director with Osisko Mining Corporation from 2012 – 2014. Ms. Darling holds a Bachelor of Arts (Honours) degree from the University of Sydney and obtained her Master’s degree in Education from the University of Toronto. Ms. Darling is a certified Human Resources Professional, and she is also a graduate of the directors’ education program offered by the Institute of Corporate Directors (ICD) in partnership with the Rotman School of Management, University of Toronto.

Wayne Kirk LL.B. — Director

Mr. Kirk has over 35 years of experience as a corporate attorney, including nine years’ experience as Vice President, General Counsel and Corporate Secretary of Homestake Mining Company, and over 16 years of experience as a board member of publicly held companies, including as a member of audit and governance committees. He is currently a member of the Board of Directors of Northern Dynasty Minerals Ltd. Mr. Kirk holds a B.A. in Economics (Distinction) from the University of California (Berkeley) and an LL.B (magna cum laude) degree from Harvard University and has been a member of the California Bar since 1969.

Mark Fields P.Geo., B.Comm. (Hon) — Director

Mr. Fields has over 30 years of experience in increasingly senior positions in the mineral exploration and mining industry with major and junior companies and currently operates his consulting practice, MC Fields Ventures Inc. Mr. Fields has and continues to serve on boards of publicly held companies involved in mineral exploration and development and on March 15, 2017, Mr. Fields was appointed as the Interim President and CEO of Discovery Harbour Resources Corp. and on December 17, 2019 was appointed President and CEO. He was involved in the acquisition and development of the Diavik diamond mine for the Rio Tinto Group through the 1990s. Mr. Fields was Vice President of La Teko Resources Ltd. when it negotiated a friendly take-over by Kinross Gold Corporation. As Executive Vice President of Pine Valley Mining Corporation, he was a key member of the executive team which brought the Willow Creek metallurgical coal mine into commercial production, for which he received the E.A. Scholz Award for excellence in mine development. Mr. Fields was President and CEO of Geodex Minerals from 2009 through 2014 and negotiated the joint venture and sale of the Sisson tungsten-molybdenum project to Northcliff Resources followed by the re-organization of Geodex Minerals. Mr. Fields holds a B.Sc. in Geology from the University of British Columbia and a B.Comm. (Honours) from Queen’s University.

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