Wellgreen Platinum closes $9.5M financing led by Tocqueville Gold Fund

pcJ News Briefs – Wellgreen Platinum Ltd. (TSX: WG; OTCQX: WGPLF) has closed previously announced private placement of 33,795,591 units for gross proceeds of $9,531,215, consisting of 25,120,056 NFT units at $0.26 per NFT unit and 8,675,535 FT units at $0.3458 per FT unit.

The financing was led by new investor, Tocqueville Gold Fund, which acquired 12,379,201 NFT units. Existing investors Resource Capital Fund VI L.P. acquired 8,675,535 FT units, Electrum Strategic Opportunities Fund L.P. subscribed 6,742,271 NFT units, and Drake Private Investments acquired 5,998,584 NFT units.

Wellgreen Platinum intends to use proceeds for the continuing development of 100%-owned Wellgreen Ni-PGM-Cu project located in the Yukon Territory and for general corporate purposes.

News Release

Wellgreen Platinum Announces Closing of Private Placement

Not for Distribution to United States Newswire Services or for Dissemination in the United States

August 8, 2017, Vancouver, B.C. – Wellgreen Platinum Ltd. (TSX: WG; OTC-QX: WGPLF) (“Wellgreen” or the “Company”) is pleased to announce that it has closed its previously announced private placement (the “Private Placement”), pursuant to which the Company issued a total of 33,795,591 units (“Units”) for gross aggregate proceeds to the Company of approximately $9,531,215. A total of 25,120,056 Units were priced at $0.26 per Unit, with each Unit comprised of one common share (“Common Shares”) and one-half of one Common Share purchase warrant (“Warrants”). Each Warrant is exercisable for one Common Share for a period of five years at a price of $0.35. 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 (“FT Warrants”). Each FT Warrant is exercisable for one Common Share for a period of five years at a price of $0.35.

All Shares issued under the Private Placement are subject to a statutory four month hold period. The gross proceeds of the Private Placement will be applied towards the continuing development of the Company’s 100%-owned Wellgreen Ni-PGM-Cu project located in the Yukon Territory and for general corporate purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Wellgreen Platinum

Wellgreen Platinum is a Canadian mining exploration and development company focused on the advancement of its 100% owned Wellgreen nickel and PGM project located in Yukon, Canada.. There is strong support from the Yukon government and Kluane First Nations, and the project has exceptional access to infrastructure as it is located adjacent to the paved Alaska Highway which runs from Whitehorse to year-round deep-sea ports in southern Alaska.

The Company is led by a management team with a track record of successful large-scale project discovery, development, financing and operation. Our vision is to create value for our shareholders through development of the Wellgreen project into a leading North American nickel and PGM producer.

Wellgreen Platinum Contact:
Diane R. Garrett
President & Chief Executive Officer
1-416-304-9318
dgarrett@wellgreenplatinum.com

Graeme Jennings
Vice-President, Corporate Development & Investor Relations
1-416-304-9322
gjennings@wellgreenplatinum.com

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