Wellgreen Platinum to Complete Equity Financing of Approximately $1.93 Million
31 December 2013 - 10:31AM
Marketwired
Wellgreen Platinum to Complete Equity Financing of Approximately
$1.93 Million
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 30, 2013) -
Wellgreen Platinum Ltd. (TSX-VENTURE:WG)(OTCQX:WGPLF) ("Wellgreen"
or the "Company") announced today that it intends to complete an
equity financing of approximately $1.93 million (the "Private
Placement").
The Private Placement will involve the issuance of up to
3,521,339 units of the Company (the "Units"), at a price of $0.55
per Unit, with each Unit comprised of one common share of the
Company (a "Share") and one common share purchase warrant to
purchase a Share (a "Warrant"). Each Warrant is exercisable for one
Share for a period of 36 months following the closing of the
Private Placement, at a price of $0.80, subject to the right of the
Company to accelerate the expiry date of the Warrants to a period
of 30 days if, at any time after May 1, 2014, the closing price of
the Shares on the TSX Venture Exchange equals or exceeds $1.20 for
a period of 10 consecutive trading days.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein in
the "United States" or to "U.S. persons" (as such terms are defined
in Regulation S under the United States Securities Act of 1933, as
amended). The securities described herein have not been and will
not be registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold in the United States or
to, or for the account or benefit of, U.S. persons absent an
exemption from the registration requirements of such Act.
About Wellgreen
Platinum
Based in Vancouver, Canada, Wellgreen Platinum Ltd. is a
platinum group metals focused exploration and development company
with advanced projects in the Yukon Territory, Ontario, and
Manitoba, Canada. Our 100% owned Wellgreen PGM-Ni-Cu project,
located in the Yukon, is one of the world's largest undeveloped PGM
deposits and one of the few significant PGM deposits outside of
southern Africa or Russia. Our Shakespeare PGM-Ni-Cu project is a
fully-permitted, production-ready brownfield mine located in the
well-established Sudbury mining district of Ontario, and our Lynn
Lake project is a former operating mine located in Manitoba,
Canada.
Our experienced management team has an extensive track record of
successful, large-scale project discovery, development, permitting,
operations and financing combined with an entrepreneurial approach
to sustainability and collaboration with First Nations and
communities.
Further information about the Company and its projects can be
found at www.wellgreenplatinum.com.
Forward-Looking Information: This news release includes certain
information that may be deemed "forward-looking information". All
information in this release, other than information of historical
facts, including, without limitation, the completion of the Private
Placement, information of potential mineralization, the estimation
of mineral resources, the realization of mineral resource
estimates, availability of capital, and future plans and objectives
of the Company 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. Forward-looking information is based on a number of
material factors and assumptions. Factors that could cause actual
results to differ materially from the forward-looking information
include unsuccessful exploration results, changes in project
parameters as plans continue to be refined, results of future
resource estimates, future metal prices, availability of capital
and financing on acceptable terms, general economic, market or
business conditions, risks associated with operating in foreign
jurisdictions, uninsured risks, regulatory changes, defects in
title, availability of personnel, materials and equipment on a
timely basis, accidents or equipment breakdowns, delays in
receiving government approvals, the Company's ability to maintain
the support of stakeholders necessary to develop the Wellgreen
project, unanticipated environmental impacts on operations and
costs to remedy same, and other exploration or other risks detailed
herein and from time to time in the filings made by the Company
with securities regulatory authorities in Canada. Readers are
cautioned that mineral resources that are not mineral reserves do
not have demonstrated economic viability. Mineral exploration and
development of mines is an inherently risky business. Accordingly,
actual events may differ materially from those projected in the
forward-looking information. For more information on the Company
and the risks and challenges of our business, investors should
review our annual filings which are available at www.sedar.com. The
Company does not undertake to update any forward-looking
information, except in accordance with applicable securities
laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Wellgreen Platinum Ltd.Greg JohnsonPresident &
CEO1-888-715-7528Wellgreen Platinum Ltd.Rob BruggemanVP Corporate
Development905-278-6801416-884-3556Wellgreen Platinum Ltd.Chris
AckermanManager, Corporate
Communicationscackerman@wellgreenplatinum.comwww.wellgreenplatinum.com
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