Electrum fund boosts stake in Nickel Creek Platinum
Northernminer - The Electrum Strategic Opportunities Fund has increased its interest in Nickel Creek Platinum (TSX: NPC; US-OTC: NCPCF) to 33.88% following the closure of the second tranche of a private placement.
The mining-focussed private equity fund based in New York is part of the Electrum Group founded by billionaire Thomas Kaplan.
The fund purchased nearly 21 million units at a price of 5¢ per unit, raising $1.1 million of Nickel Creek’s total equity raise of $1.53 million.
Each unit comprises one common share in the company and one common share purchase warrant, with each warrant exercisable into one common share for 10¢ per share for a period five years from the date of issuance.