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OAKVILLE, ON, Sept. 26, 2024 /CNW/ - Nickel Creek Platinum Corp. (TSX: NCP) ("Nickel Creek" or the "Company") is pleased to announce that it has closed on its previously announced non-brokered private placement (the "Private Placement") pursuant to which the Company has issued a total of 505,000 common shares of the Company (each, a "Common Share") at a price of $0.90 per Common Share for gross proceeds of approximately $0.45 million. The Company's largest shareholder, Electrum Strategic Opportunities Fund L.P. ("Electrum"), acquired all of the Common Shares issued in the Private Placement.

The net proceeds from the Private Placement will be used for general corporate purposes.

All Common Shares issued under the Private Placement are subject to a statutory hold period of four months and one day from the date of closing.

Pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), the Private Placement would constitute a "related party transaction" as Electrum (and certain other insiders of the Company) will subscribe for Common Shares. These transactions will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of any Common Shares subscribed for by insiders pursuant to the Private Placement will not exceed 25% of the Company's market capitalization.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from the registration requirements is available.

About Nickel Creek Platinum Corp.

Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a Canadian mining exploration and development company and its asset is its 100%-owned Nickel Shäw Project. The Nickel Shäw Project is a large undeveloped nickel sulphide project in one of the most favourable jurisdictions in the world, with a unique mix of metals including copper, cobalt and platinum group metals. The Nickel Shäw Project has exceptional access to infrastructure, located three hours west of Whitehorse via the paved Alaska Highway, which further offers year-round access to deep-sea shipping ports in southern Alaska.