On August 8, 2017, Wellgreen Platinum Ltd. (“Wellgreen”) closed a private placement, pursuant to which Wellgreen issued a total of 33,795,591 units for gross aggregate proceeds of approximately $9,531,215. A total of 25,120,056 units (“Units”) were priced at $0.26 per Unit, with each Unit comprised of one common share and one-half of one common share purchase warrant. In addition, 8,675,535 units (“FT Units”) were priced at $0.3458 per FT Unit, with each FT Unit comprised of one flow-through common share and one-half of one common share purchase warrant. Placees included Tocqueville Gold Fund, Electrum Strategic Opportunities Fund L.P., Resource Capital Fund IV L.P. and Drake Private Investments.
Cassels acted for Wellgreen with a deal team that included Deepak Gill and Stefanie Sebanc (Securities & Mining).