ccnm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 27, 2012) - Prophecy Platinum Corp. (TSX VENTURE:NKL)(OTCQX:PNIKF) ("Prophecy" or the "Company") is pleased to announce that the Company has closed a non-brokered private placement (the "Private Placement") of 1,135,635 common shares of the Company, issued on a "flow-through" basis (each a "FT Share") at a price of $1.10 per FT Share, for gross proceeds totalling approximately $1.24 million.
The gross proceeds of the Private Placement will be applied primarily to the continuing exploration of the Company's flagship Wellgreen PGM-Ni-Cu property located in the Yukon Territory, and also for exploration on the balance of the Canadian projects in the Company's mineral portfolio.
The FT Shares issued pursuant to the Private Placement are subject to a hold period expiring on April 28, 2013, in accordance with the provisions of the Securities Act (British Columbia).
Finder's fees equal to 6.0% of the gross proceeds raised under the Private Placement were paid in respect of the Private Placement.
About Prophecy Platinum
Prophecy Platinum Corp. is a Canadian PGM, Nickel and Copper exploration company with projects in Canada and Uruguay. The Company's flagship Wellgreen PGM-Ni-Cu project is located in the Yukon Territory, Canada. Prophecy's Shakespeare PGM-Ni-Cu project (fully-permitted) is located in Ontario, Canada, and its Lynn Lake project is located in Manitoba, Canada.
This press release does not constitute an offer to sell or a solicitation 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 law and may not be offered or sold in 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
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.
Contact Information:
Prophecy Platinum Corp.
Chris Ackerman
Senior Manager, Investor Relations
1-800-459-5583
cackerman@prophecyplatinum.com
http://www.prophecyplatinum.com/">www.prophecyplatinum.com
