NOT FOR DISSEMINATION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
CANADIAN PLATINUM CORP.
PRIVATE PLACEMENT ANNOUNCED
May 10, 2018 – Saskatoon, SK-Canadian Platinum Corp. (“CPC” or the “Company”-TSXV:CPC) announces that it intends to raise up to $1,425,000 through a non-brokered private placement. The private placement will consist of up to 45,000,000 non-flow-through (“NFT”) units at a price of $0.025 per unit. Each NFT unit consists of one NFT common share of the Company and one share purchase warrant. Each share purchase warrant entitles the holder thereof to acquire one NFT common share of the Company at a price of $0.05 cents for a period of 24 months following closing of the private placement. The private placement will also consist of up to 10,000,000 flow-through (“FT”) units at a price of $0.03 per unit. Each FT unit consists of one FT common share of the Company and one share purchase warrant. Each share purchase warrant entitles the holder thereof to acquire one NFT common share of the Company at a price of $0.05 cents for a period of 24 months following closing of the private placement. The NFT and FT common shares are subject to a four-month hold period following the closing date.
Approximately 75% of the proceeds of the NFT private placement will be used to advance the Company’s exploration projects in Nevada, USA and 30% used for general working capital. 100% of the proceeds of the FT private placement will be used to advance Company projects in Saskatchewan, Canada.
In connection with certain subscriptions under the private placement, the company may pay a cash commission pursuant to, and in accordance with, applicable securities laws and TSX Venture Exchange policy (the “Exchange”).
The pricing of the private placement is in reliance on the temporary relief measures established by the Exchange, and therefore the private placement and pricing of the private placement require approval of the Exchange having regard to the temporary relief criteria set out in the Exchange’s bulletin of April 7, 2014, in relation to the extension and modification of temporary relief from certain pricing requirements.
About Canadian Platinum Corp.
Canadian Platinum Corp. is a Canadian-based resource exploration and development company with its head office in Saskatoon, SK. 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.
CANADIAN PLATINUM TRADES ON THE TSX VENTURE EXCHANGE UNDER THE 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:
Canadian Platinum Corp.
Gary Billingsley, President
To receive information by e-mail, visit www.canplats.ca and click “Contact”.
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