Prophecy Platinum arranges $8.1 million private placement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 1, 2011) - Prophecy Platinum Corp. ("Prophecy Platinum" or the "Company") (TSX VENTURE:NKL)(OTCQX:PNIKF)(FRANKFURT:P94P) announces that the Company has arranged a non-brokered private placement of 3,000,000 shares at a price of $2.70 per share to raise aggregate gross proceeds of $8,100,000.
Company Insider Sprott Asset Management LP, on behalf of various funds and managed accounts, have committed up to 25% of this financing. Additional insiders of the Company are expected to subscribe at $2.72 per share pursuant to the policies of the TSX Venture Exchange.
Finder's fees may be payable in connection with the financing in accordance with the policies of the TSX Venture Exchange.