In a move that is set to significantly impact the mining industry, Nickel Creek Platinum Corp. (TSX:NCP) has announced that it has closed its previously announced non-brokered private placement (the "Private Placement"). The move, which has been long-awaited by investors, paves the way for Nickel Creek Platinum to advance its strategic goals and further solidify its position in the industry.
The details of the private placement reveal that the company has issued a total of 505,000 common shares of the Company (each, a "Common Share") at a price of $0.90 per Common Share, generating gross proceeds of approximately $0.45 million. It is worth noting that the company's largest shareholder, Electrum Strategic Opportunities Fund L.P. ("Electrum"), acquired all of the Common Shares issued in the Private Placement.
This strategic move by Nickel Creek Platinum is seen as a bold step forward in its plans for growth and development. The funds generated from the private placement are expected to be utilized in advancing the company's key projects and initiatives. While the exact plan for the net proceeds has not been fully disclosed, it is expected that the funds will be channeled towards financing key strategic priorities.
The decision by Electrum to acquire all of the Common Shares issued in the Private Placement is a significant vote of confidence in Nickel Creek Platinum's business plan and strategic direction. Electrum's investment is a testament to the company's innate potential for growth and expansion. Nickel Creek Platinum's management will be working closely with Electrum to ensure that the company's goals and objectives are fully aligned.
The private placement announcement is a significant development for Nickel Creek Platinum. It is clear that the company is positioning itself for long-term success and growth. As the mining industry continues to evolve, Nickel Creek Platinum is poised to be at the forefront of the changes that are set to shape its future.