NOT FOR DISSEMINATION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
CANADIAN PLATINUM CORP. ANNOUNCES CLOSING OF PRIVATE PLACEMENT
SASKATOON, SASKATCHEWAN – November 21, 2017 – Canadian Platinum Corp. (“CPC” or the “Corporation”) (TSXV: CPC), Gary Billingsley, Chief Executive Officer of the Corporation announces that the Corporation has closed its previously announced non-brokered private placement of units (“Units”) for gross proceeds of $299,750 (the “Offering”).
The Offering consisted of the issuance of an aggregate of 19,983,333 Units at a price of $0.015 per Unit. Each Unit consists of one common share in the capital of the Company (“Common Share”) and one common share purchase warrant (“Warrant”), with each full Warrant entitling the holder to acquire one Common Share at a price of $0.05 per Common Share, for a period of 24 months from the closing of the Offering.
In connection with the Offering, the Company paid aggregate cash commissions to arm’s length finders who assisted with the Offering of approximately $7,628.75.
Proceeds from the Offering are expected to be used to further advance the Corporation’s exploration projects ($200,000), current payables ($30,000) and for general working capital purposes ($69,750).
In connection with the Offering, the Company has received conditional listing approval from the TSX Venture Exchange (“TSXV”) and completion of Offering is subject to a number of customary conditions including, but not limited to, the receipt of all necessary approvals, including the final approval of the TSXV. All securities issuable pursuant to the Offering subject to a four month hold period from the date of issuance in accordance with applicable Canadian securities laws.
ABOUT CANADIAN PLATINUM CORP.
Canadian Platinum Corp. is a Canadian-based resource exploration and development company with its head office in Saskatoon, Saskatchewan. CPC is focused on the acquisition and development of a diversified portfolio of resource properties including precious metals, base metals, platinum group elements and strategic metals including cobalt.
CPC is traded on the TSXV under the trading symbol “CPC”. For more information, including news releases and technical reports providing more detail on the contents of this news release, please visit our website at www.canplats.ca.
For further information, please contact:
Canadian Platinum Corp.
Gary Billingsley, President
Phone: (306) 242-7363
Fax: (306) 992-0729
To receive information by email, go to www.canplats.ca and click “Contact Information”.
Neither the TSX Venture Exchange, Inc. nor its Regulation Service Provider (as that term is defined under the policies of the TSX Venture Exchange) has neither approved nor disapproved of the contents of this press release.